The Alfie star dated a number of glamorous actresses and models during his prime, including Bianca Jagger and Jill St. John, before tying the knot with wife Shakira.
And now he's urged ladies' man Walliams to do the same, insisting he'll never be satisfied with his love life until he learns to devote himself to one woman.
Walliams says, "Michael Caine said to me, 'I used to be like you. I used to think with women, it was about quantity. Then I realised it was about quality. Then I met my beautiful wife Shakira.'
"I know people reading this won't believe it, but people like myself have low self-esteem. That's why we feel the need to date loads of girls. Then you realise it's not going to get you anywhere. Michael Caine said to me, 'I realised that I couldn't sleep with every woman in the world.' He was sharing a flat with Terence Stamp in the Sixties. It must have been a very, very exciting time to be young and famous."