Laudrup's Swansea will face Walcott in tomorrow's FA Cup third-round cracker at the Liberty Stadium.
The Swans boss said: "Theo is a threat whether he plays wide or down the middle.
"He's not a No 9, but because of his pace he's so dangerous. He's faster than 98 per cent of the centre-backs in the Premier, so you have to be careful.
"One ball through the middle and he's gone. If you give him three chances in a game and he takes two, it's game over.
"Speed in football is so important. Of course, speed without any quality is useless. But he's got both.
"I have seen players with only pace and at this level, it's not enough. If that's all you have, you should go and participate in Forrest Gump."