Chelsea snapped up the Albion forward for a fee worth up to £60 million in early July, and so far the Brazilian has shone for his new team.
He scored a brace in the Blues' Club World Cup semi-final win against boyhood club Fluminense, backed it up with a goal in their final win over Paris Saint-Germain, and this season he has two in three games.
As a result, former England international Ferdinand believes the ex-Watford ace is an excellent addition for Enzo Maresca's side.
He said on Rio Ferdinand Presents: "I think Pedro is going to be the best value, Joao Pedro at Chelsea, out of all the [summer] transfers. I think he’s a great mix and a great addition to the Chelsea squad.
"He can play centre-forward. He can play as a ten, I see him as a little bit of an 8/10 in the team. I think he’s a really, really, really good addition."
He is not the only person to think this way about the 23-year-old. Indeed, former Liverpool striker Daniel Sturridge has echoed similar sentiments about the Brazilian.
The ex-Chelsea attacker said on TikTok, "I just love the signing of Joao Pedro, someone who I think will score a lot of goals for Chelsea, a lot."