The now TV pundit made the claim on Saturday night's EFL Highlight's show on Quest.
Holloway addedÂ Jackett is doingÂ an incredible job at Fratton Park this season, after Saturday's 1-0 victory at Bradford opened up a three-point gap at the top of the League One table.
The Blues boss arrived at Fratton Park in 2017,Â replacing Paul Cook.
Prior to his move to the south coast, the 56-year-old led Wolves to the 2013-14 League One title, while the former Watford player guided Millwall to the Championship via the 2009-10 League One play-offs.
Jackett also guided Swansea to promotion via the League Two play-offs in 2004-05.
Holloway said Jackett's credentials in League One were better than any of his counterparts.
'They've (Pompey) been incredible,' saidÂ former Bristol Rovers manager Holloway.
'He's got one promotion, one play-off win, two play-off loses, but the fella's immense and there's no better manager in that division.
'What he does is he gets a sleeping giant and rejuvenates them.'