The 61-year-old music mogul thinks the talent show benefits from having feisty Sharon on the judging panel and although she has ruled herself out of returning for this year's series, Louis is hoping he can persuade her to come back.
When asked who he wants to join Simon Cowell and Cheryl Cole on the judging panel, he told BANG Showbiz: "I love Sharon Osbourne, she'd be my number one (pick). Get Sharon back, start the campaign! Get Sharon back!"
Louis has been a part of the judging panel since the series first started in 2004, but he claims he hasn't yet been told by Simon - who, along with Cheryl, is returning to the programme after four years away - if he is going to be a judge this year.
Louis insists he will only help care for Simon's baby son Eric - his first child with Lauren Silverman - if he is named on the panel.
Speaking at the opening night of 'The X Factor' musical 'I Can't Sing' at the London Palladium on Wednesday evening (27.03.14), he said: "I honestly don't know if I'm coming back. I tell you what, I'll do the babysitting if he gives me the job (on 'The X Factor')."
'I Can't Sing' is a spoof of the talent show, written by Harry Hill and Steve Brown, and judges Simon, Cheryl and Louis, as well 'X Factor' host Dermot O'Leary, are parodied in it.
Louis has no problem with being ridiculed in the stage production - which is now open to the public - but he's not surprised that a younger actor, Nigel Harman, 40, has been cast as Simon, 54.
Louis said: "Nigel looks much younger than Simon, he's a better singer, he's a better dancer and he doesn't have the ego, but he does look a lot like him in the show.
"How come Simon got someone really young to play him and somebody much older to play me? Have you seen my character in the show? I'm not that bad! But I just go with it you know, it's funny."