The Algeria international has been one of the key cogs in Leicester’s unlikely Premier League title charge, scoring 16 goals and adding a further 11 assists in 32 league matches.
With Leicester seven points clear at the top and seemingly heading for the title, it would be fitting for one of their players to receive the award and Carragher feels Mahrez is the best candidate.
“I've never hidden my admiration for Kane and Payet but I think — and hope — the (player of the year) award goes to Mahrez, whose 16 goals (12 away from home) and 11 assists have left Leicester three wins from being crowned champions,” Carragher wrote in the Daily Mail.
“I think of the really decisive moments, such as the wins at Watford and Crystal Palace, and he has been the central figure. His goals and assists have been responsible for 30 of Leicester's 72 points.”
Mahrez’s goals, especially away from home, have been so crucial in Leicester’s title charge and the amount of winners he has struck this season makes him a stand out candidate.
The 25-year-old’s performances in general have been superb, and considering he was a French division two player only a few years ago, his transformation has been startling.
Alongside N’Golo Kante and Jamie Vardy, it would come as little surprise to see heavy interest in the winger this summer though the guarantee of Champions League football could prompt him to stay.