The Spain international joined Spurs for £26m from Valencia this summer and netted on his Premier League debut against Crystal Palace in his side's 1-0 win.
Ardiles told The Mirror: "He reminds me of Luis Suarez. He is dangerous in the box and always looks likely to score.
"These are exciting times and we are definite contenders for a top-four finish."
Tottenham face off against Swansea City in the Premier League later today.