The Foxes shot-stopper is looking for his sixth clean sheet in seven matches on Wearside this weekend.
Leicester, who travel to the Stadium of Light on Sunday, are currently seven points clear at the top of the Premier League and boast the division's fourth-best defence this season.
However, most of the plaudits have gone to attacking players Jamie Vardy and Riyad Mahrez, with midfielder N'Golo Kante and centre-back Wes Morgan also earning their fair share of recognition.
And, according to Mannone, Schmeichel's role has been overlooked.
“I was reading an interview this week with (Watford’s) Troy Deeney talking about Leicester and their defence,” the Italian told The Chronicle. “But I was thinking why doesn’t he talk about the keeper, because he’s been excellent.
“You have ups and downs in your career, and he’s been down at Notts County and Darlington. He’s worked really hard to come back after leaving Man City. It’s not only Vardy and Mahrez.
“He’s had a very good season and he deserves all the praise he’s getting.
“He’s gone from the keeper who everyone wanted to be similar to his father (Peter), but I don’t think you can compare him to his dad. He’s got his own style.”
Schmeichel has helped the Foxes to five clean sheets in their last six outings as they home in on a first ever top flight title.
In contrast, Mannone has recorded one in 13 appearances since coming into the side in January, after Costel Pantilimon was sold to Watford.
Sunderland, who are four points adrift of safety in 18th place, possess the Premier League's fourth-worst defence this season, with only Aston Villa, Newcastle United and Norwich City conceding more than their tally of 55.