The Spain international has scored five goals in his last six games to help the Swans pull five points clear of the relegation zone.
Four of those have been headers, and Clement believes his aerial prowess compares to the world's best players.
"Llorente is wonderful at heading the ball," he said.
Clement continued: "[Cristiano] Ronaldo is also fantastic, [Gareth] Bale also good from a striker perspective.
"You have to look at John Terry and Sergio Ramos, central defenders who always did so well when they went forward into the box.
"He [Llorente] is doing very well and he's proven to be a key player during this period."
Clement worked with Ronaldo, Bale and Ramos at Real Madrid, while he coached Terry during his time with Chelsea.
Since taking over at Swansea, the former Bayern Munich and Paris St-Germain assistant manager has overseen five wins from eight Premier League matches.
That run of results has lifted the Swans from the foot of the table to 16th place, and Llorente has been pivotal to their upturn in fortunes.
A summer signing from Sevilla, the 32-year-old scored two goals to give Swansea a vital 3-2 win over Burnley on 4 March and take his personal tally for the season to 11.
"He's scored five goals since I've been here - the two at Liverpool, one at Chelsea and then the two against Burnley," said Clement.
"What's helped him is he's getting good supply into the box, and that was very clear in the game against Burnley - not just the two that he scored but other opportunities he had as well.
"He's a very good player when you get crosses into the box for him."
Meanwhile, Swansea will be without right-back Kyle Naughton for Saturday's trip to Hull with what Clement described as a "minor" hamstring injury.
The 28-year-old is expected to return for the match at Bournemouth the following weekend.

Mears Scotland has held the contract with the council for four years.
Mears was losing money on the work and councillors will be urged to allow the contract to be renegotiated.
The future of the contract has been caught up in in-fighting between some Labour councillors. Critics believe the work should be put out to tender to give others the chance to compete.
The boss of Mears Scotland, Willie Docherty, is a personal friend of the council leader Jim McCabe, one of Scotland's longest-serving Labour councillors.
Mr McCabe says he has been open about his friendship with Mr Docherty, whose wife Sadie is the Lord Provost of Glasgow, but insists that would not affect his judgement on the contract.
Recently, Labour councillor Tommy Morgan - who had asked some tough questions over the contract - lost his position as convener of the council's audit and governance panel after a vote of confidence.
This was over a group disciplinary matter unconnected with the Mears contract.
Mr Morgan also became involved in a heated discussion with other councillors over a proposed school closure.
With allegations of in-fighting between Labour councillors, the highly-charged atmosphere before the general election has also cast a shadow on the affair.
Labour has an overall majority on North Lanarkshire Council and holds all the Westminster constituencies in the area.
However, the area voted Yes in the independence referendum and the SNP has high hopes locally.
Morrison Scotland, which was 30% owned by the council, won the contract when it was tendered four years ago. The company was later taken over by Mears.
Under the terms of the contract, the company was expected to deliver efficiency savings every year.
The council says Mears has improved the council's repairs service but was losing money on the contract - in part because it had been expected to find efficiency savings every year.
Councillors on the Policy and Resources Committee are expected to vote to allow the contract to be renegotiated.
Other options which were considered included re-tendering or going for a piecemeal approach to repairs.
Council officers believe these options are riskier, could end up costing more than renegotiation, and are more likely to lead to a legal challenge.
Swansea City striker Fernando Llorente's form is "key" to their hopes of Premier League survival, says head coach Paul Clement.
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The future of a controversial housing repairs contract will be discussed by councillors in North Lanarkshire later.