Sherman memorably slammed San Francisco 49ers wide receiver Michael Crabtree as a "sorry" player immediately after the Seahawks' NFC championship win, claiming that he would not make the top 20 receivers in the league.
However, the controversial cornerback rates Thomas significantly higher and is looking forward to testing his skills when the two players face each other in Sunday's Super Bowl.
"I definitely think he's top five. He put together the type of year and done everything in his power to put himself in that conversation," Sherman told reporters.
"He's made big catches, he's got a lot of run after the catches, he turns some small plays into huge plays, and I think that he's a great receiver.
"He's a great competitor, and I'm sure it's going to be a fun night for both of us because we're both intense competitors and good players."
Thomas was also full of praise for Sherman and expressed his desire to be matched up against him on Sunday.