Speaking in an interview with TNT Sports Brazil, the Chelsea attacker was full of praise for Kane's consistency and impact at the top level.
"Can he win the Ballon d'Or? In my opinion, yes. Because he's an extraordinary player," Joao Pedro said.
"He was already having extraordinary numbers in the Premier League, but now seeing him at Bayern, we can really get a picture of the quality that he possesses."
Kane, who previously starred for Tottenham Hotspur, has continued his prolific form since moving to Germany, adding more goals and leading the line for Bayern with his usual composure and intelligence in the final third.
Joao Pedro also reflected on facing him during his earlier career, when Kane was dominating defences in England.
"I played against him when I was at Watford and he was at Tottenham Hotspur, and even then he totally dominated the game," he added. "I have a lot of admiration for him. I'm always rooting for him because he's a fantastic player."
Both players are expected to feature at the 2026 FIFA World Cup, where Kane will lead England national football team and Joao Pedro will represent Brazil national football team on the global stage.