Vardy has bagged seven goals in his first eight games this term, as he enjoys his finest run of scoring form since moving to the King Power Stadium.
And Keown believes that Vardy's blistering start is due to the striker feeling that he has proved he is capable of playing in the Premier League.
"Jamie Vardy at Leicester is one who has caught my eye," he said. "He is now showing a little bit more composure in front of goal. As soon as you realise you deserve to be in the Premier League, there’s a swagger that arrives with your game and that’s what happening to Vardy. He’s brimming with confidence because he’s not having to prove how good he is."
Vardy netted five goals throughout the whole of the 2014/15 campaign, but he seems to have adapted to life at the top level now.
The former Fleetwood Town man's work-rate has been hugely impressive, and he is starting to show a ruthless finishing streak to add to all of his tireless running.
Vardy's form has earned him a cap for England, and he is also one of the major reasons behind Leicester's good start.
The Foxes are stationed in the upper echelons of the Premier League table, and have claimed 15 points from their first seven games of the new campaign.