Haaland has emerged as one of the hottest prospects in Europe, and almost all big clubs in the continent have been linked with a move for the Norwegian international.
The 20-year-old has been impressive for Dortmund this season, and he has already scored 33 goals from as much games across all competitions for the Bundesliga outfit.
Cascarino believes that Juventus' signing of Ronaldo for £99m when he was 33-year-old shows that the Italian giants have the financial ability to sign Haaland, who is valued at over £100m.
"A very likely possible move will be Juventus because they bought Ronaldo at 33 for £99m," Cascarino told talkSPORT.
"Obviously you don't know the financial circumstances of that football club, but they are very ambitious in Italian football.
"You're starting to see the spending, like they did in the 80s where they are prepared to pay big wages and big sign-on fees.
"If you're prepared to go and sign Ronaldo at 33 at £99m, you could easily go and sign Haaland.
"They're going to be a team challenging [for the Champions League] in the next five years. Juve have had a very difficult season this year. It's been a transitional type of season for them.
"Ronaldo is still at the football club and they say he's going to be there next year. But when they went for Matthijs de Ligt from Ajax, their ambition was clear.
"They'd stopped doing that in Italian football. It's about where clubs are financially to be able to do these type of deals.
"Juve would definitely go for Haaland because Ronaldo is 36, but you'd still want to get him to the football club."
Meanwhile, Haaland drew a blank in his previous match for Borussia Dortmund as they fell to a 2-1 defeat to Manchester City in the Champions League quarter-final first leg, but he still posed threat to Cityzens defence throughout the match.