The 27-year-old moved to the Liberty Stadium for a club record £5.55 million on transfer deadline day after an impressive spell in La Liga.
Laudrup, however, feels the Spaniard will have to earn his place in the team despite his price tag especially considering the excellent form of wingers Nathan Dyer and Wayne Routledge.
"Nathan and Wayne have started the season in great form. Now Pablo is here. We have three fantastic players for two positions and that is important," Laudrup told reporters.
"Two will play and one will be on the bench. Pablo looks fit and sharp, but it was the same when Ki Sung-Yueng came in.
"It is not a question of whether they cost £1, £5 or £10m. You have to look at the overall picture. We are only in the beginning and everyone wants to play.
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"But we need a squad for when we make some changes, either before or during a game, so the level stays the same."
The Swans boss has sealed the signing of left-back Dwight Tiendalli after losing Neil Taylor for the rest of the season to a fractured ankle.
Youngster Ben Davies filled in for the Wales international in the game with Sunderland and Laudrup is confident to continue with him but is happy to have Tiendalli as cover.
The manager said: "Ben will play. He did great against Sunderland. But we needed a full-back because we need two players for each position.
"We looked at other options but the most important thing was to find a player who was match fit. Dwight fits the bill."