Watson hailed Pant’s achievements in his cricketing career so far.
Pant is the captain of the IPL franchise Delhi Capitals (DC), who are coached by Ponting while Watson is their assistant coach.
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"The skill that Rishabh Pant has, take away his leadership, at 24-years-old to do what he's been able to do in the infancy of his cricketing career...the things he has been able to achieve has been incredible," Watson said during Delhi Capitals' virtual press conference to announce collaboration with Royal Stag for the upcoming IPL season.
"It feels like he's been around for a long time. He can only continue to get better and learn from his experiences," said the DC assistant coach.
"For him to get an opportunity to be a leader and under Ricky (Ponting), who was one of the best captains I played with. Ricky has the ability to lead a team and get the best from people around him. Rishabh certainly has a great person around him," he added.
Fans and media often draw similarities between Rishabh Pant and MS Dhoni but Watson reckons both are very different people and cricketers.
"Media and public in general want to compare apple with apple but every individual has their own skill set, their own ability and in a perfect world we could compare Rishabh with MS Dhoni but both are very different people and cricketers, who have incredible skill.
"Rishabh is a leader who is very cool, calm and collected as well as what I have experienced with the other person -- MS Dhoni."
"In the end, all Rishabh can do is become the best version of himself. The public and media can continue to compare him to great MS Dhoni at their own peril.
"But all that matters for Rishabh and DC is that he brings the best version of himself as a player and leader."
During the IPL 2022 season, Shane Watson is looking forward to working with Pant, opener Prithvi Shaw and all-rounder Shardul Thakur.
"Looking forward to getting to know Pant, finding out what exactly makes him tick and finding out how I can help him in any way possible.
"Prithvi Shaw is someone I find very fascinating. The talent this young guy has is spectacular. He has incredible skill.
"Another guy I'm looking forward to working with is Shardul Thakur," he added.
According to Watson, Delhi Capitals have been able to assemble a strong squad and the franchise can clinch their maiden title this season.
"The one thing that stands out for me is the squad. It is certainly one of the strongest with overseas and Indian players," he said.
"DC have been close to winning the title and I feel they have what it takes to cross the line. There are not too many hole in the squad let alone team."
"I worked with him (Thakur) in CSK. He's and extremely skilful cricketer and is continuing to get better. We are seeing his skill with the ball and quite a few glimpses with the bat as well. He is a genuine all-rounder in all formats, specially T20."
(With PTI inputs)