Cole is set to win his 100th cap for his nation tomorrow night against Brazil.
Pearce said: "People don't realise how dedicated and professional he is. He is the best left back who has ever played for England, by a country mile. That's credit to him.
"He is comfortable on the ball, he's quick and he has continued to improve over the years.
"With the sports science that is involved these days, it is possible that he could beat Peter Shilton's record of 125 caps.
"I played my last game for England when I was 37 and Ash is a long way away from that."