The Foxes have signed the 42-year old goalkeeper on an 18-month deal for a free transfer which reunites the pair who played together for two seasons at Middlesbrough in the late 1990s.
Upon securing Schwarzer's signature from Chelsea, Pearson spoke highly of the Australian who will be a handy acquisition for the next year-and-a-half.
"I'm absolutely delighted that we've been able to sign a player of Mark's vast experience," Nigel told lcfc.com of the former Fulham star.
"To have played the number of games he has played at the very top level is outstanding and highlights both his ability and his professionalism.
"I know Mark really well. He has a number of great attributes as a player and brings a huge amount of Premier League know-how to the squad.
"His qualities as a player and as a man will be very valuable for us during the second half of the season and beyond."
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