The 25-year-old is set to be named on the bench for the World Cup qualifier against Denmark on Tuesday, but Lippi feels that he should be used more regularly by the national team due to his playmaking style.
"I see Giovinco as a phenomenon, he’s brilliant," he explained to Tuttosport.
"He’s the kind of player that all teams need. Even when he doesn’t score a goal, Giovinco is always able to invent something for the team."
The 64-year-old also looked forward to Saturday's clash between the top two sides in Serie A as his former side Juventus take on Napoli.
"The League table at the moment is speaking clearly. Juventus-Napoli is the real big match," he said.
"I like the project that is in place in Naples.
"Juventus give the impression that they have that something extra, but Napoli are not that far away."
The former Inter coach is now in charge of Chinese side Guangzhou Evergrande, and he admitted he is enjoying the challenge of managing in a foreign country, despite the standard of football not being quite the same as it was in Europe.
"I'm happy for the way of life and also from a professional point of view. It's not that we need to make comparisons, I knew that here I would not have found the Italian brand of football, it is not a surprise.
"But what is a shock is that Chinese football wants to grow. Of the 16 teams that make up the top division, 13 have foreign coaches," he explained.