Stokes was recently sent home from an England Lions tour for behavioural reasons but has enjoyed a decent start to the season with his county with bat and ball.
Collingwood told the Daily Mail: "Ben is good enough to become a specialist No 6 batsman, with all that entails. He bowls at really good pace and moves the ball both ways with conventional swing.
"And standing at slip to him against Warwickshire, I saw one of the best spells of reverse-swing I've ever seen. It was awesome.
"We are talking serious, serious potential, huge talent and immense competitiveness. In a year or so he will be a massive asset to the England Test side."
England's first Test series of the summer begins next month against New Zealand.