Speaking to Goal, Heskey stated his belief that a move for Tielemans would be a positive one for the club - but questions whether they would be realistically able to afford him.
"Tielemans is a fantastic player," Heskey said. "Tielemans is the kind of player that would suit any midfield and any team.
"He excites you because he does the simple things very, very well - the simple passes from here to there and you look at them and think 'that was crisp, that was nice', that slide pass that sometimes gets cut out doesn't with Tielemans because he is so crisp with his passing. He would fit into any team.
"The good thing for Leicester is, they don't need to sell. You have got to pay, and you might have to pay over the odds. Leicester don't need to sell, the player is happy.
"Winning the FA Cup helped, it would have helped even more if they had got into the Champions League but being in the Europa League is still good.
"I think he would suit the way that Liverpool play, but you would have to prise him from Leicester."