Heading into the huge semi-final against Denmark tonight, Coady is yet to get on the pitch for Gareth Southgate's side.
The 28-year-old, though, continues to have a big influence in the dressing room – and Holland has given him enormous credit.
"My player of the tournament so far is Conor Coady, I would say," Holland told BBC Football Daily.
"He's not get on the pitch yet, but on the training pitch he gives everything.
"In the dressing room before the game, he speaks like he's captain despite the fact he's not been on the pitch yet. That's incredibly difficult to do."
Coady gained five England caps heading into the Euros but has been kept out of the side for the tournament by a defence which is yet to concede a goal.
Holland has likened his presence in the squad to that of John Terry when working at Chelsea.
"To be fair, I had an experience like it at Chelsea with Antonio Conte, in 2017, where John Terry only started seven games," he said.
"It was the year Chelsea were champions with a 3-4-3, and we had Gary Cahill, (Cesar) Azpilicueta and David Luiz in the back three.
"So, John Terry plays five or six games, but in the dressing room on a day-to-day basis and on the training ground, after games and before games, the contribution he made to the group had a huge influence on the success of the team."
Holland added: "A selfless approach, what's best for the team, is not easy to do.
"But we have great examples of players going down that road, which is inspirational, really.
"I've mentioned Conor, and there are others like Jordan Henderson. When you put all that into the melting pot, it's a powerful group we have."