"We won't win this World Cup," Swann was quoted as BCC's Test Match Special.
"In four years' time, we might have a chance if we get in all the exciting players who have none of the baggage of the old-style brand we play.
"I love Cookie (Cook) dearly. But I don't think he should be bothering playing one-day cricket anymore. He doesn't need to. He's proved a very good point in Test matches. He should just enjoy being England Test captain. Let in the young people who just want to smash it everywhere," said Swann, who took 104 wickets in 79 ODIs for England.
Swann wants to see the likes of Cook, Ian Bell and Gary Ballance replaced by Hampshire's James Vince, Surrey's Jason Roy and Nottinghamshire's James Taylor besides dynamic opener Alex Hales.
"He's not the guy who should be opening the batting in one-day cricket for England. Vince should be doing it with Hales in a young vibrant team with Eoin Morgan as captain," he said.
Vaughan, who captained England in the 2007 World Cup in the Caribbean, also believes Cook should be rested for the World Cup with England due to play an Ashes series, plus Tests against West Indies, New Zealand, Pakistan and South Africa in 2015.
"By taking on the one-day job and captaining the side all winter, going into a huge year of Test match cricket I think he (Cook) will be absolutely drained," Vaughan said.