Norwich have signed Naismith from Everton for a transfer fee reported by BBC Sport to be £8.5 million.
The Canaries who got promoted from the Championship at the end of last season, are struggling for survival in the Premier League at the moment.
Alex Neill’s side are currently 16th in the standings with 23 points from 22 matches, just two points above the bottom three.
“Norwich, on the other hand, will be one of the teams which will struggle in the second half of the season,” Shearer wrote on Coral.co.uk before the signing was made. “It looks like they will bring in Steven Naismith but he alone won’t be enough to keep them out of trouble.”
Naismith struggled for playing time at Everton this season, making just 10 appearances in the Premier League.
The 29-year-old, who can play as an attacking midfielder or as a forward, scored three goals and created eight chances for the Toffees.
Norwich will host Liverpool at Carrow Road in the Premier League on Saturday afternoon.