Bouchard said the Women's Tennis Association was sending the wrong message in allowing the five-time Grand Slam-winner to come back from her 15-month suspension.
Russia's Sharapova -- the world's highest-paid female athlete for more than a decade until last year, according to Forbes -- won on Wednesday on her comeback after testing positive for meldonium.
"I don't think that's right. She's a cheater and so to me, I don't think a cheater in any sport should be allowed to play that sport again," Canada's Bouchard, the world number 59, told TRT World in Istanbul.
"So I don't think that's right. She's not someone I can say I look up to any more because it's definitely ruined it for me a little bit."
Sharapova, 30, has pleaded that she had been taking meldonium for medical reasons for 10 years and didn't know it had been added to the list of banned substances last year.
Sharapova will learn on May 16 whether she will receive a wildcard for the French Open, the year's second Grand Slam which she won in 2012 and 2014.
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