Andre Iguodala believes Rasheed Wallace would be a top 5 player in the NBA if he played in today's game ... saying the 2004 champ would be better than 2-time MVP Giannis Antetokounmpo.

Really.

The Golden State Warriors forward made the head-scratching comment on "The Dan Le Batard Show with Stugotz" this week ... saying Sheed had what it took to be one of the all-time greats, but chose to "do [his] thing" instead.

"Rasheed Wallace probably could have been a top-five player in the league for a 10-year stretch," Iguodala said on the show. "He was shooting half-court shots left-handed and right-handed."

"If Rasheed Wallace played in modern-day basketball, if he played in our league today, he’d be a top-five player. He’d be better than Giannis and I love Giannis."

Now, Sheed was a great player during his 16-year career ... averaging more than 14 points a game and playing a key role in the Detroit Pistons' title run in 2004.

His ability to shoot from range would certainly fit right in with today's game ... but better than Giannis?!? We're talking about the 2021 Finals MVP, 4-time first-team All-NBA selection, Defensive Player of the Year and 75th Anniversary team pick ... and the dude's just 27 years old.