The Canterbury prop insisted "every fan and spectator" wanted to see the return of ex-State of Origin player Folau, who has been hoping to seal a mid-season move to Wests Tigers this year.
Folau's wife Maria took to social media last week to accuse Australian Rugby League Commissioner Wayne Pearce of stymying the NRL return over "inclusiveness" concerns.
The 37-year-old Folau had his multimillion-dollar Rugby Australia deal terminated in 2019 over controversial social media posts, including one that claimed "hell awaits" homosexuals.
In her Instagram video last week, former netballer Maria Folau claimed her husband's first NRL deal since 2010 would have been green-lit, but for the concerns of Balmain Tigers legend Pearce.
Folau has most recently been playing rugby union in Japan, and had been hoping to return to the NRL in 2021, only for St George Illawarra to abort their attempts to sign him.
Former NSW prop King was hopeful the league could rethink its recent decision.
"I think every fan and spectator wants to see Israel back in the league," King said.
"I guess we want everyone's voice to be heard, and everyone's opinion matters. I think equally in the same fact that Israel has his beliefs and I think they should be valued as well.
"I don't think he should be discriminated against as well."
A large percentage of the NRL's Pasifika community identify as Christian and on-field prayer circles amongst players are common after games.
"Part of what makes our game so great is, as a Christian myself, the way that it (faith) is broadcast," King said.
"Not that we do it for that, but every time there's prayer circles, there's cameras on there and I think that's awesome.
"Biased as a Christian, but I think having Christian athletes, anyone with an opinion, it's their opinion and it's their right to speak."
King's Bulldogs face the Tigers in round 20, with the prop hopeful Folau's return might not come to fruition until after then.
"I wouldn't want to verse him against the Tigers," King said.
"I think that was probably the topic, that it'd be harmful for the game. I think it'd be great for the game."
Folau played eight Tests for Australia and eight Origin matches for Queensland in a four-year NRL career that included stints with Melbourne and Brisbane.
He was a member of the Storm's 2007 side which won the premiership before it was stripped from them due to significant salary cap breaches.
Folau left the NRL after the 2010 season to forge a career with AFL expansion side GWS, before hopping codes again to rugby union in 2013.
He briefly returned to rugby league with Super League side Catalans in 2020.
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