The two legends said West Indies could become the first host country to win the showpiece tournament.
''I have always said we have a very good chance of winning this World Cup. We have assembled a team that is good enough to compete at this level,'' Richards told reporters after the re-opening ceremony of the Kensington Oval.
''There are so many things for them to motivate themselves for. No team has ever hosted a World Cup and won it so that is a great opportunity.
Winning it as a West Indies unit is collectively good for the whole region and I believe we stand a very good chance.'' Richards scored 6,721 runs in 187 one-day internationals and was part of 1975 and 1979 World Cup-winning sides.
Walsh, who was the first cricketer to take 500 wickets in Test, also gave the Windies a ''big up'' as they prepare for a World Cup camp in Jamaica this week.
''I'm a true supporter of the West Indies team and I think we have picked a young, exciting crop of players, who will do us proud.
I don't just believe they will do well, I believe they have what it takes to win the World Cup,'' said Walsh.