The skipper believes that not only does the deal represent great value but also that the midfielder’s work-rate and commitment will win over the doubters.
"I think the fact we have brought Bowyer in for nothing is a great piece of business by the club," Shearer told The Sun.
"Does it please me? Very much so. I think if Lee had, say, four years of a contract left then you would be talking millions for his services.
"But to get someone in of his proven ability for nothing is fantastic work by the chairman and manager. I think the fans will love him.
"All Newcastle fans want is a player who wears the black and white shirt with honesty and who works hard. I know he will do that.
"A big strong-point of his overall game is his work-rate. Then when he gets forward into the box he will drift into dangerous positions and score more than the odd goal.
"Newcastle supporters look for good, honest sweat from their players and Lee Bowyer will give them plenty of that."