The winger has joined the Foxes after they triggered his £3.75m release clause (via Mail), and while Rowett - who played for Leicester during his playing career - conceded that the 19-year-old still has a lot to learn, he does believe that he will impress for his new club.
"He has certainly got the quality. I think he is going to have to add things to his game, which you would hope Leicester can do, the experience of someone like Claudio Ranieri would be able to add to his game," he told the Mail.
"It's going to be a tough challenge. He is an eye-catching player. If he starts games or if he comes off the bench for 20 minutes I am sure he can have a very big impact for them."
With Claudio Ranieri's side flying so high in the top flight currently, it seems unlikely that the Italian will throw Gray straight into the startling line-up, especially with Riyad Mahrez and Marc Albrighton performing so well.
His tally of one goal and one assist so far this season will also suggest to his new manager that his end product needs lot of work before he can be relied upon to be one of the side's most creative options.
However, with the pace that the youngster possesses, and the trickery that Championship defenders will not be disappointed to see the back of, he could certainly be an excellent option to throw on during the latter stages of games when his acceleration can make twice the impact against tiring opposition.