Tottenham signed Llorente from Premier League rivals Swansea on transfer deadline day.
Former Liverpool and Tottenham midfielder Murphy has praised the North London club's chairman Levy for signing the Spain international.
“Llorente should be excellent back-up for Harry Kane but, if Tottenham are chasing the game, they could play together.
“Spurs face a lot of defensively minded teams so Llorente will allow them to get balls into the box from wide - and there is nothing wrong with playing that way when required.”
Llorente scored 15 goals and provided one assist in 28 Premier League starts for Swansea during the 2016-17 campaign.
The Spaniard may be 32 years of age, but he is a proven goalscorer who will prove to be a good signing for Tottenham.
The former Athletic Bilbao star is hugely experienced, and the striker will also be important for Spurs in the Champions League.
Tottenham finished second in the Premier League last season and will be aiming to win the league title in 2017-18.
Among the other players that Spurs recruited in the summer transfer window are defender Davinson Sanchez and goalkeeper Paulo Gazzaniga.