The Frenchman is not prepared to write off the former Manchester City forward, who has scored just once for the club this term.
Antonio Conte's men are now in third place in the Premier League table and 15 points behind leaders Manchester City after 22 games of the new campaign.
"I am happy with our game", said Puel.
"I'm not so sure he would be guaranteed playing at Arsenal". They are the champions and they play with good quality at home so it's a good feeling to see my players with this quality on the pitch and all the chances we created this afternoon.
Speaking to BBC Sport, Lawrenson said: "I was at the FA Cup tie between Fleetwood and Leicester on Saturday and Claude Puel's side did not play well, but he had made a lot of changes so you can not read too much into that performance".
"Quite frankly, the way he plays the game, the way he likes to play, he likes plenty of space in behind to run into".
"Iheanacho is a young player, he signed this season with us and we have to develop him".
Puel refused to commit on the future of Islam Slimani, with the £30million record buy interesting Besiktas. But should the Foxes fail to sell the Algerian worldwide then Ulloa is likely to go on loan with clubs in Spain and England interested, including Aston Villa. "Yes, for Iheanacho there has been a lot of speculation. He has good talent but must work harder to stay in the team".
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