Clarke said the fight for the vacant No.6 batting position to face England will come down to performances, with Bailey among the contenders after excelling in India while captaining Australia's limited overs team on the current tour.
After being ruled out of the Indian tour with a recurrence of his long-term back disc problem, Clarke is hopeful of making his playing return for NSW in Wednesday's Sheffield Shield season opener against Tasmania in Sydney.
Clarke faces a fitness test later on Tuesday and a decision will be made on Wednesday morning about his availability.
The skipper said Bailey would have his support if selectors decided to go that way.
"I think Bailes has done an exceptional job in the last couple of years in the shorter formats and he's leading the boys really well," Clarke said.
"I'd love to see him get his opportunity in the Test team.
"It's obviously going to come down to performance and who selectors think the right man is for that position but I've always enjoyed playing alongside Bailes.
"He's a great fella and if they select him I'll be extremely happy."
Bailey is averaging 106 in India, with three half centuries from four innings.
Despite his outstanding form at ODI level, Tasmanian Bailey averages 38.29 at first class level.
However, his leadership and temperament are winning him support among selectors.
Usman Khawaja and Phil Hughes were both left out of Australia's fifth Ashes Test team at The Oval in August, and would appear to be back in the queue for a recall.
However, Khawaja's outstanding performance for Queensland in this month's domestic one-day tournament, including a man-of-the-match century in the final, mean he could be back in the frame for the first Test in Brisbane next month if he starts the Shield season well.
West Australian Shaun Marsh is also in the frame for a return to Test cricket, after performing well in the domestic one-day tournament.
Clarke said competition will be fierce.
"I've been able to sit and watch the boys perform so well under George (in India). I think Bailes has done an fantastic job captaining the guys," he said.
"The Ryobi Cup has seen a lot of batters put their hands up and make runs so they'll be at the forefront of selectors' minds.
"There's not one batter that doesn't see an opportunity to push for selection in that first Test match.
"There's an opportunity for someone and all the guys are fighting hard for that position and I'm glad I'm no longer a selector."
Coach Darren Lehmann has said he wants to pick and stick this Ashes series, ending the chopping and changing of the batting line-up that went on in England.
However, Clarke said while that's the ideal scenario, it's only possible if the team is winning and players are performing.
"I really hope that's the case ... but it's a lot easier when the guys are winning," Clarke said.
The 32-year-old Clarke will train with teammates on Tuesday at Blacktown, needing to get through a net session and fielding drills then pull up well on Wednesday to be able to take his place.
Clarke is confident his chronic back condition is no worse than it has been throughout his entire career, and says he hasn't done anything different in his preparation.