The Tottenham goalkeeper has impressed the pundit, while the midfielder's form hasn't - despite him being a big fan.
The former Arsenal midfielder took to picking a combined XI ahead of the Gunners' Capital One Cup clash at Tottenham on Wednesday night.
And it prompted huge praise for goalkeeper Lloris, although playmaker Eriksen has disappointed the pundit of late despite him actually being a 'big fan' of the 23-year-old.
While picking his combined XI, Merson told Sky Sports: "It's a close one between [Petr] Cech and Lloris but Lloris is seriously top drawer, I'd definitely have him in the world class category.
On Lloris's Danish team-mate, however, he said: "I'm a big fan of Eriksen but he has disappointed me towards the end of last season and obviously he's not really been playing this season."
Merson doesn't seem to be speaking with any particular anti-Tottenham bias here (perhaps for a change) and it's because of what has become expected of Eriksen in terms of his high standards that may lead to any disappointment.
So far this season, the 23-year-old's injury problems haven't curtailed his creative instincts. In just 204 minutes, the Dane has already registered three assists and created nine chances. Spurs fans will hope he can perform even better when fully fit.
His impact was instant against Crystal Palace on Sunday afernoon, as he set up Heung-Min Son for the winner. Maybe Merson won't be disappointed with him for much longer...