Wright says the Frenchman deserves to be regarded as Arsenal's No1 striker.
"Giroud is a fantastic player. He can hold up the ball and has great technical ability too," Wright told the London Evening Standard.
"Arsenal need to make him the main striker, give him that sense of confidence, and sign a back-up forward instead. They need to be the right calibre and the manager needs to find somebody.
"If we're talking top five, Olivier Giroud's got to be in there. Robin Van Persie would be because in terms of quality, he’s brilliant. There’s also Daniel Sturridge, Michu of course and I would probably say Wayne Rooney at the moment too.”
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