Riewoldt booted a career-best six goals in Richmond's nail-biting five-point win against Essendon at the MCG on Sunday.
"Yes, I think it is [his best game] and probably the fact it was in a big game as well," Rawlings said post-match.
"I think he's scratched the surface. He kicked five against the Eagles last year, but we were 10 goals up, so he got a few late.
"He can be a genuine key position forward for this footy club."
But Rawlings said Riewoldt needs a bigger bodied tall forward to help him out.
The coach hopes first-year Tiger Jayden Post could be the one to fill the void.
"He (Riewoldt) showed today that he can be the main man and thankfully he was able to kick straight and get the rewards he deserves from where he marked it," Rawlings said.
"I think he needs another forward definitely and I think Post is trying to be that and I couldn't be happier with his work-rate or development.
"There is a bloke who wears No.12 that might be able to give him a bit of a chop-out when he comes back for a little while – we'll see how long that is.
"But definitely, I think Jack will work well in the future with another pin behind him, because he's showed he can play full-forward and centre half-forward equally as well."
On another Tiger forward, Rawlings said Mitch Morton is another player he loves coaching, although he concedes he is frustrating.
"The world of coaching Mitch Morton – he is a ripper," Rawlings said with a laugh.
"I really love his work-rate. He really wants to be a player that's admired by his teammates and his actions sometimes infuriate me."
"But in the last quarter he nearly wins the game for us by leading out to the ball. He dropped the chest mark, but he was in the position, because he led at the ball.
"He's got some bad habits, so we're still trying to work with him, but I'm full of praise for Mitch Morton, because he's serious about wearing the yellow and black and wanting to take the club forward. I've got an admiration for him and he's honest in his performance. – he knows we he's at."
And Rawlings is hoping his brother-in-law Matthew Richardson can return in round 19 from injury, but it remains to be seen which team the superstar Tiger will play in.
"We'll make a decision where it'll be – Coburg reserves, Coburg or Richmond," he said.
"He's great. We had a good meeting the other day and he said: 'I just want to play footy with what's happened around the place and I'll probably feel a bit weird if I came straight back in.
"I would've thought at this stage it'd be Coburg, but he's just a complete professional in his rehab and he's back two weeks earlier than what was originally forecast and he's moving very freely and pulling up well from his sessions."