"Records are made to be beaten and I think mine will be beaten by Damian," Blanco, who scored 38 tries in his 11-year international career, told Reuters.
Penaud's two tries in France's 60-7 win took his tally to 35.
"He's got a great vision of the game, he's always well placed," Blanco, who was nicknamed the 'Pele of rugby', added.
"He can score from everywhere, sometimes he's in the full-back position, sometimes on the opposite wing."
France topped Pool A and will face Ireland, Scotland or South Africa in the quarter-finals next Sunday, with the defending champions their most likely opponents.
"I wish for him to beat my record but not in the quarter-finals, hopefully in the final to give us our first World Cup title and turn the French hearts upside down," said Blanco.
