Drinkwater – who now plays for Chelsea – joined Leicester from Manchester six years ago.
During his spell with the Foxes, Drinkwater famously lifted the Premier League title in the 2015/16 season and defied all the odds in doing so.
Leicester are currently mourning the loss of Srivaddhanaprabha who died in a helicopter crash after the 1-1 draw against West Ham last Saturday.
The east Midlands outfit postponed their Carabao Cup fixture against Southampton on Tuesday, but they are still expected to fulfil their league match away to Cardiff on Saturday (3pm).
Drinkwater holds Srivaddhanaprabha in high regard and explained how the owner persuaded him to leave United for Leicester.
“I remember the first time I met him, the week after I signed in 2012,” Drinkwater told The Times.
“He told me about his ideas for the club and his ambitions.
“I’d heard about the money he was putting in, which helped convince me to leave Manchester United for Leicester, but his ambition in person was extraordinary.
“He truly believed Leicester could do something special and that rubbed off on the players.
“Financial backing is one thing, but having an owner who truly believes in the group of players he has put together is another.
“Some of the decisions he had to make were not easy, but he always had the best interests of the club at heart.
“The best calls are often the hardest.”
Drinkwater also admitted the news of the owner’s death was shocking.
He added: “It’s a terrible loss and hard to put into words.
“I feel for his family massively. They’re a great family and seem to have similar qualities.
“I can’t imagine how they’re feeling right now. I’m hurting and I hadn’t seen him for a year, as I left Leicester 18 months ago.”