Pereira is in contention to make his long-awaited return to action this weekend against Liverpool.
The 27-year-old has been sidelined since damaging his cruciate knee ligaments since the 4-0 win over Aston Villa in March.
Prior to his injury, Pereira was undoubtedly one of Leicester's most important players.
The Portugal international, signed from Porto in 2018, showed his adept at both defending and attacking.
Both skills have become more important than ever for the modern fullback.
Liverpool relied heavily on Trent Alexander-Arnold and Andy Robertson to end their 30-year wait for a Premier League title, while Chelsea spent £50m to buy left-back Ben Chilwell from Leicester this past summer.
Leicester fans are excited about the news Pereira's potential return, and Piper thinks the Foxes are welcoming back one of the world's best fullbacks.
"This is no disrespect to Trent Alexander-Arnold but I think he's the best right-back in the league. And this is not just because I'm a Leicester fan.
"Better than Alexander-Arnold, I do honestly. He's got more to his game than Alexander-Arnold. Chillwell has just gone for 50 million at Chelsea. But Ricardo Pereira is a level or two above and Chilwell is England's starting left-back so that shows you how good I think Pereira is."