The 52-year-old, who captained the Toffees during his playing career, believes that the England international has what it takes to lead the Merseysiders in the future.
"He certainly fits the bill to be a future captain. He's an organiser, a talker and an international as well," Ratcliffe told the club's official website.
"I think he's one that the players look up to, especially the younger lads when they come in. He's been here now for five-and-a-half years and his deal will take him up to 10 years.
"When you've been at a club that long, people will look to you for leadership. Everybody does and the one thing you have to do is keep putting performances in. I'm sure he'll do that."
Jagielka deputised for Neville as the Everton skipper earlier this season when the former Manchester United man was out with a knee injury.