Raut also claimed that by 2022, there will be enough numbers "on our side" to decide the presidential candidate.
Pawar recently played a key role in bringing together the Congress and the Shiv Sena to form government in alliance with his party in Maharashtra.
Talking to PTI, Raut said, "Sharad Pawar is a senior leader of the country. I think his name should be considered by all political parties for the post of President, the election for which will be held in 2022."
Asked about the opinion of other political parties on fielding the former Union minister and four-time state chief minister, Raut said he has "merely proposed" Pawar's name.
"I think other political parties can also propose other senior candidates for the post of President. By 2022, there will be enough numbers on our side to decide the presidential candidate," said the Rajya Sabha member.
Pawar's party has got most of the 'plum' ministries, including Home and Finance, in the Uddhav Thackeray-led Maharashtra Vikas Aghadi government.