Vardy, who has been on the books of Premier League outfit Leicester since 2012, has been in sensational form so far this season.
The 28-year-old England international striker has scored 14 goals and created 19 chances in 15 Premier League appearances this campaign,
Waghorn, who joined Scottish Championship side Rangers in the summer transfer window, played wit Vardy at Leicester and rates his former teammate highly.
“Let’s not take anything away from Leicester,” the 25-year-old told The Daily Record about Vardy. “He has the potential to go to a bigger club, sure, but they’re an ambitious club too.”
According to The Mirror, Premier League giants Manchester United and Chelsea are interested in signing Vardy in the January transfer window.
Both United and Chelsea need a proven goalscorer, and perhaps the Englishman would be a good signing.
Leicester are at the top of the Premier League table at the moment with 32 points from 15 matches, two points clear of second-place Arsenal.