King was forced to retire at the end of last season due to a persistent knee problem and has since taken on an ambassadorial role at the club. The 32-year-old, the recipient of 21 England caps, won the League Cup during his time at White Hart Lane but reckons Andre Villas-Boas' current crop can develop into title-winners.
"The way the team are progressing at the minute, hopefully in the next year or two they will be really challenging for the Premier League." King told the BBC.
"I rate the current Spurs team very highly.
"I think we've got a young and ambitious manager who's great and is going to do well for the club.
"I think we've got a great group of players at a good age where they're improving all the time and reaching their peak."
A top-four finish, and ultimately Champions League qualification, remains the target for Villas-Boas this season although back-to-back league defeats have dented a push for second place.
King feels reaching Europe's elite club competition has to remain the club's bread and butter for the coming years after last turning out in the Champions League under Harry Redknapp in the 2010/11 campaign.
"Hopefully this season we will finish in the Champions League places and then keep doing that," King added.
"It's a big club and you've got to make sure it's not just a one-off, you've got to keep doing it.
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