Sven-Goran Eriksson has told Farhad Moshiri that Carlo Ancelotti will bring 'stability' to Everton.
And the former England and Lazio manager also admitted he would hire Ancelotti if he were a club owner.
Eriksson made the Italian his captain while in charge of Roma during the 1980s and believes Everton have a 'loyal' manager who possesses 'great' connections.
The 73-year-old Swede told the Official Everton Podcast : "He is a top-class man and a top-class manager. Top, top.
"If I was owner of a club, I would hire Ancelotti. Because that brings stability.
"He will be very loyal to the club and players. He is a good PR man, because of his way of being, and the connections he has around the world in football - players, managers, press, fans - is great.
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"You don't find anyone speaking bad speaking about Ancelotti. I have never heard that. Never ever."
Eriksson encouraged Everton to spend this summer while conceding Ancelotti does not need a full-scale transfer revamp.
But the ex-Manchester City boss knows top players - such as James Rodriguez and Allan last summer - will be tempted to Goodison Park by the allure of the manager.
He added: "You don't need to buy 20 players, but you need good players, otherwise it is very, very difficult to compete with the best in the Premier League, because the Premier League is the best league in the world.
"People know he is a good manager to work for, so as a player, you want to go there, for sure. Players are not stupid. Players think, 'I will be a better player under this manager.'"
