Dew famously kicked two goals and set up two more during an inspired burst of football in the third quarter of the 2008 Grand Final against Geelong that tilted the game Hawthorn's way.
Newbold not only said he would like to see Rioli, a dual premiership player, play in his first senior game since round 15, but he thinks he will.
Speaking at the Carbine Club Grand Final luncheon in Melbourne on Tuesday, Newbold said the 25-year-old's performance in the third quarter of Sunday's VFL Grand Final showed what he was capable of doing.
"I'd like to see Cyril play. I think he is a real X-factor player and I think we saw on the weekend in the VFL that he can have an impact just in 10 minutes,” Newbold said.
“[We] saw Stuart Dew in the 2008 Grand Final … he turned it on for 10 minutes and won the game.
"I think Cyril will play."
Rioli played for Box Hill for three quarters against Footscray in the VFL decider at Etihad Stadium in an attempt to gain match fitness following a long stint on the sidelines after a hamstring injury.
Rioli has kicked just three goals in his three Grand Finals and went goalless in the 2012 decider against the Sydney Swans.
He has kicked just six goals in nine games against the Swans but he is a brilliant tackler and capable of putting pressure on the opposition.
This year, Rioli has kicked 20 goals in 11 games.
Despite Rioli’s undoubted brilliance, Hawthorn coach Alastair Clarkson and his match committee will have little time for romance.
Clarkson has given little indication as to which way the selection committee is leaning, suggesting it was going to be difficult to find a spot for Rioli.
Dew will be a member of the Swans coaching panel on Saturday.