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.
"I rate the current Spurs team very highly," King told the BBC.
"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.
"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."
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