Pearson admits it was important to enjoy a successful period after a difficult turn to the year and has paid tribute to everyone at the Walkers Stadium.
"I am very pleased. We went into February having had a bit of an up and down time in January," he told Sky Sports News.
"It was a productive month and we needed it to be because it got our season back on track.
"It is always nice to pick up awards but it is a real team effort. The players were outstanding and the staff are there to support them."
Leicester's fine run in February propelled them into the reckoning for automatic promotion, although they are still two points behind fourth-placed Swansea and have more ground to make up on the top three.
Pearson does not want to set any specific targets for the remainder of the season, simply urging his players to keep fighting until the very end.
"There is a long way to go," he admitted.
"I would still say the three sides up there at the moment, Newcastle, West Brom and Forest, are still in a very strong position.
"I think all we can do is make sure that we strive to have a good end to the season. And who can say what will happen?"
Leicester striker Paul Gallagher made it a double for the Foxes as he won the Championship Player of the Month award for February, seeing off the challenge of Andy Carroll of Newcastle, Simon Church of Reading and Swansea's Dorus De Vries.