Pawlett has been given a key role under Derek McInnes, playing both out wide and off the central striker, scoring twice in 18 games this season.
The 22-year-old made nine appearances for St Johnstone in a five-month loan spell in the first half of last season and Wright, who was assistant manager at the time, feels the Perth club can take some credit for his recent progress.
Wright, whose team face Aberdeen in the Scottish Premiership on Saturday, told Press Association Sport: "Peter is a very good young player and someone I really like.
"He had injury problems here but we have to take some credit because we helped diagnose and get him on a programme which has helped him.
"And I think Peter Pawlett is a real handful and a top player. They are seeing the benefits.
"Derek has done the right thing, he probably gave him the confidence to go and play as well, which I think to be fair we did when he was here. When he was fit he played most of the games.
"He's got pace, he is someone who has had a very good season so far."
Both sides go into the game on a high with Saints having won five of their last six matches and Aberdeen getting back on track with a cup win at Partick Thistle following defeats by Hearts and Celtic.
St Johnstone have the incentive of jumping above Aberdeen in the top six if they win.
Wright said: "They are a massive club, a club that is crying out for success.
"I think Derek has assembled a really good squad, a strong squad, and they are the type of club that could probably go and strengthen in the window because of the supporter base they have got.
"Everybody is expecting them to do really well this season and I'd be one of those people because I think they have a really good squad.
"They are strong at the back and don't give much away. They are a real force up front, (Niall) McGinn seems to be coming into a bit of form and Peter Pawlett has had an excellent season.
"It's going to be a difficult game but Derek could say the same about us, that we will be difficult opponents, and let's hope that's the case because we do believe that we can beat anybody on any given day."