The Arsenal man considers his teammate to be on par with the Liverpool star and Manchester United striker and reveals he nearly joined Real Madrid earlier in his career.
The France international started the season in blistering form, notching four goals in his first five games, but his return has dipped lately with just four goals in his last 13 outings.
However, Cazorla has faith in Giroud and puts him on par with the Liverpool and Manchester United strikers.
When asked by RMC how Giroud compares to Suarez and Rooney, Cazola replied: "For me, he is [at] the same level as the other strikers in the league. He is sturdy and can keep the ball. On the surface, he is effective, either with his feet or head. He is a little different from what is done in England, but he offers a lot.
"He is a great striker and has showed it all season, for Arsenal and France. He has improved to a high level and is getting better every year."
Cazorla joined Arsenal in 2012, quickly becoming a key part of Arsene Wenger's side, and he says he is delighted with his choice despite a failed move to Real Madrid earlier in his career.
"Both clubs [Barcelona and Real Madrid] are monuments of Spanish football. All players are dreaming about it. I had contact with Madrid a few years ago but a move could not be completed," he said. "On several occasions, it is fate that I have not been able to join one of these two clubs. But my career has developed well and I have no regrets."