The Barcelona loanee arrived during the recent transfer window and, having gained full fitness, helped inspire West Ham to a 2-1 victory over champions Manchester City on Saturday.
Song's form, as well as the performances of recent arrivals Sakho and Valencia have helped West Ham into fourth, but Allardyce feels Song is only now starting to get the praise his showings have warranted.
With Sakho having scored seven times in eight appearances since moving from Metz and Valencia weighing in with two goals, Allardyce is eager to ensure Song's contribution is not overlooked.
"[Song has] been in the shadow of Sakho and Valencia but this lad has outstanding quality. He prompts with his passing and his protection to the back players is excellent," Allardyce explained.
"Song led us as a team and the rest of the team followed."
Song and Valencia combined to set up Morgan Amalfitano for West Ham's opener, with Sakho's late header ultimately proving crucial as David Silva pulled one back for City.
Allardyce does not feel Sakho and Valencia's achievements have yet sunk in for the pair after their strong start to life in England.
"Sakho and Valencia - I don’t think they know what they’ve done yet, I don’t think they know how good they've been," he added.
"The rest of the team has been lifted by those two."
