The Foxes are the surprise leaders in the Premier League and are two points clear at the top of the division, and 14 points ahead of Liverpool.
However, Aldridge has stopped short of calling them title contenders despite their wonderful start to the season, but thinks they are real candidates to finish in the Champions League places.
He wrote in his Liverpool Echo column: "I’ve just got a feeling the wheels may come off further down the line, especially if they get a couple of injuries.
"But considering Leicester are 14 points ahead of Liverpool they are going to take some catching. For that to happen we have to beat them at Anfield on Boxing Day."
It seems that you would have to be a brave person to write off Claudio Ranieri's side this season given that they have continued to surprise sides and are now proving they can win even the more difficult games they are faced with as Jamie Vardy and Riyad Mahrez in particular keep stealing the headlines for the side.
In terms of Liverpool's chances of getting a victory over the league leaders - which would be just the boost they need after a poor defeat at the hands of Watford - Aldridge has said his old side needs to stop being a soft touch on their own patch, with far too many teams leaving Anfield with something to show for their efforts.
"Leicester will come and have a right go, they won’t just shut up shop like most visitors to Anfield. There will certainly be goals in it.
"It will be a proper Boxing Day game - a real whopper. We need to make up for what happened at Watford by beating the surprise leaders to put ourselves back in contention for the top four."