Ranieri is set to complete a return to the Premier League after previous manager Xisco Munoz became the division's first sacking of the season.
Watford will be Ranieri's fourth different English side, with his most famous club being Leicester City, who he astonishingly won the top flight title with in 2016 in one of football's greatest ever upsets.
However, Ranieri was sacked the following season as the Foxes dropped down the table. He has since managed Fulham, who were relegated after his appointment.
Former Crystal Palace chairman and talkSPORT host Simon Jordan claims Ranieri gets too much credit for Leicester's title win.
And he believes the Hornet's owners have made the wrong call by giving him the job.
"There's an argument to say 'there's no school like the old school', but I don't see Claudio Ranieri as the headmaster of that particular environment," Jordan said.
"You look at him now, you look at his record with Fulham, you look at his record with Sampdoria…
"I was very underwhelmed when I met him years ago, people think of him as this nice, gentile, soft, little tinker man - he isn't.
"But I also think if you look at his record over the last two or three jobs that he's had, whether it's Sampdoria, Roma or Fulham, you're not even getting into the 40s as a win-rate.
"That's going to get this [Watford] team relegated."
The 69-year-old, who has also managed Chelsea, has endured some underwhelming management spells since departing the King Power in 2016, struggling at French side Nantes as well as Fulham and Sampdoria.
Jordan believes Ranieri's nationality has done him some favours with fellow Italian and Watford owner Gino Pozzo, and says his role in Leicester's title win is a little overstated.
"For me, if I'm Watford, I wouldn't employ him, but he's Italian and the owners probably know him," he explained
"I think there are a lot of reasons why Leicester won the title and one of them was Raneiri's press management.
"I think the players and coaching staff were incredibly instrumental in that outcome and Ranieri gets a lot more credit than possibly his managerial capabilities entitle him to.
"I don't think he's the right fit, but they do and it's their football club."
Danny Murphy joined White and Jordan to discuss the appointment, and the former Fulham and Liverpool midfielder agreed that it's the wrong move and claimed it could even see the Hornets relegated this term.
Murphy also questioned what effect constant coaching changes must have on Watford's players, with the club sacking their 14th manager since the Pozzo family bought the team in 2012.
"Watford go through managers like no club I've ever seen," Murphy said. "I know we talk about Chelsea, but they're different, and I don't think it works long-term.
"I think they'll go down, especially with the appointment of Ranieri.
"I think he's gone, he's too far gone, he's old school, the game has evolved and I don't think he's the right man.
"If I'm a player at Watford this morning, this constant conveyor belt of new managers with new ideas… it's not how I'd want to work. I'd be sick of it."