The 34-year-old Argentine joined the Foxes over the summer following a successful 10-year spell in Italy with Inter Milan.
Cambiasso has only been at the King Power Stadium for a matter of weeks, but Hammond insists that the veteran has quickly proved his worth to the squad.
"You learn off Esteban every day," he told the club's official website. "His English is very good and he always talks to you.
"I have learned so much from Esteban's communication skills. All the time he is pulling players into position. He's always dictating the game. He's very good at knowing where he is on the pitch.
"If you see him he very rarely has more than one or two touches as he knows where he is. He keeps the ball very well and he's a really nice bloke as well."
Cambiasso netted his first goal for Leicester last Sunday during their incredible 5-3 win over Manchester United.