Frank Lampard’s side opened their 2020-21 campaign with a 3-1 win at Brighton on Monday evening thanks to goals from Jorginho, Reece James and Kurt Zouma.
Loftus-Cheek started the Premier League clash but struggled to make much of an impact before being replaced by Ross Barkley shortly after half-time.
Neville says Loftus-Cheek failed to grasp his chance for Chelsea and could be solid if he continues to under-perform.
Loftus-Cheek, 24, has endured a number of injury setbacks so far during his career and was sidelined from March 2019 to June with an Achilles problem.
Speaking after Chelsea’s win at Brighton, Manchester United and England legend Neville said on Sky Sports: ‘I thought, Ruben Loftus-Cheek, he’s been given his chance.
‘I thought he was really disappointing. I don’t think Loftus-Cheek can complain. He’s been given games.
‘I don’t think he’s ever grasped his chance yet. There’s going to come a point when they’re going to cash in and get £25million for him.’
Former Liverpool captain Jamie Carragher added: ‘When he was at Crystal Palace you thought “what a player”.
‘He’s got to say he wants to play every single week. He’s not grabbed his chance tonight.
Lampard, meanwhile, praised his Chelsea team for clinching an opening-day victory, after giving debuts for new signings Kai Havertz and Timo Werner.
‘To come to Brighton and win is a tough ask,’ he said. ‘We’ve only had a few days, so I didn’t expect the kind of football we want to play.
‘We had to do some of the more difficult things – resilience, throwing yourself in front of the ball, so I’m pleased.
‘We’ve had a lot of quarantines, a lot of players who aren’t match fit. That’s how this season has started.
‘There’s a lot of strain on these players and hopefully we’ll get better and better.’