Kovacic has caught the eye since joining on a season-long deal from Real Madrid in the summer transfer window.
He has faced intense competition from Ross Barkley, Ruben Loftus-Cheek and Cesc Fabregas for a spot alongside NâGolo Kante and Jorginho in the engine room.
But former Chelsea winger Cole believes Kovacic is an important cog in linking the defence with the attack.
âI think heâs different class,â Cole said on BT Sport.
âWe know he isnât a prolific goalscorer from midfield but when you watch him closely what he does is he drives with the ball.
âStraight away thatâs unnerving the (opposition) back four because heâs got that ability to just ghost past players.
âCesc Fabregas is a great player but what he gives Chelsea on top of what Cesc canât do is he can drive and take players out of the game from a central midfield position.
âIt allows space then for the Willians, the Eden Hazards and the Pedros to receive the ball.
âI think heâs vital for the way Chelsea want to play.
âHe would like to score more goals from midfield Iâm sure.
âHeâll be one of those players I think when heâs not there, thatâs when youâre not going to notice him.
âHe drives and links the play from the defence to the attack so well.â
Cole was speaking ahead of Chelsea’s Europa League clash away to BATE Borisov on Thursday, where Kovacic was named on the bench.
Starsport understands Stamford Bridge bosses currently have no plans to complete a permanent deal for the Croatia international.
They did not negotiate a permanent option with Real Madrid as part of the loan deal that brought him to SW6.
Kovacic will be hoping to start Chelseaâs next Premier League fixture against Everton at Stamford Bridge on Sunday.