The Egyptian scored twice in victory over Leicester City on Saturday.
Shearer said on Match of the Day: "He's been absolutely fantastic, it was his show.
"He could have had five or six goals - that was the impressive thing about him.
"He got in so many good positions. He can play anywhere across that frontline, whether it's down the left, right or through the middle.
"You can't go anywhere near him now, you can't touch him. His balance is superb.
"He's so quick, the second goal had everything, strength, precision, power pace and accuracy with the finish.
"That's what has won them the game.
"17 goals in 21 Premier League games, £37 million is an absolute bargain."