Marco Silva is under pressure after a poor start to the season and is heading into a tough run of fixtures with Liverpool away up next.
Former striker Cascarino believes Sheffield United manager Chris Wilder would be an ideal fit.
He said: "For Everton, Chris Wilder has to be their first choice.
"His track record at Sheffield United shows he could transform the club. Evertonians would love him and his style of play."
Wilder's Sheffield United side is similar to David Moyes' previous Everton team.
The team is mixed with skilful and hard working players and no team gets an easy ride against them.
The problem is for Everton that Wilder has shown no intention of wanting to walk away right now.
The Blades are in seventh position, five points ahead of 17th placed Everton.
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