The Argentine midfielder penned a one-year deal at the King Power Stadium in August, but Leicester have struggled in his maiden campaign and the club are seven points adrift of safety with just nine matches remaining.
Cambiasso has enjoyed a stellar career, winning the domestic titles in Argentina and Spain with River Plate and Real Madrid, before winning five Serie A titles, four Coppa Italias and the UEFA Champions League at Inter.
And the 34-year-old says helping Leicester retain their Premier League status would rank with the best of his achievements.
"For me, it's like another cup," he told BBC East Midlands.
"When you start another season you have an objective, and this is the objective for us.
"For me, winning a cup or winning the league with another team is the same now as having the possibility to save Leicester in the Premier League."
Despite Leicester's predicament, Cambiasso maintains Leicester can avoid an immediate return to the Championship.
"I understood when I signed for Leicester it's not an easy job to stay in the Premier League," he added.
"It's a difficult situation but I think we have our chances to win matches. There's a quarter of the Premier League left to finish.
"I think some people think for Leicester all is finished. But I'm sure, because I watch my team-mates every day, we can save Leicester and stay in the Premier League."
