The Black Cats forward has proved the difference for his side this season, with 17 goals in all competitions, 14 of which have come in the league.
He was once again the saviour at the weekend as he coolly slotted home a late penalty to rescue a draw with Stoke City.
Manager Sam Allardyce has already discussed his importance, admitting that his side would have been relegated without Defoe’s goals.
And Carragher is equally impressed by him believing that he is among the best strikers in the Premier League alongside Aguero.
“Jermain Defoe is arguably the best player in that position in the league. He’s up there with Aguero. He’s so sharp,” he told Sky Sports. “It was a vital penalty and we’ve said for weeks that his goals could be the difference for Sunderland.
“His record compares with strikers for teams near the top of the league. This is one of his best seasons and if he continues in that form that could be enough to keep Sunderland up”.
Sunderland will be hoping that Defoe can add more goals to his tally between now and the end of the season.
The relegation survival race is set to go down to the wire, with his side currently 18th in the table but just a point behind Newcastle United.
Many though are expecting Sunderland to escape because they have Defoe in their side and he will surely be keen to prove them right.