The Colombian attacker is full of respect for the 28-year-old but is confident that the Europa League holders can trouble the Spaniard's Chelsea team-mates in the Super Cup
The Spain international has impressed in the opening stages of the 2012-13 campaign after a difficult first 18 months at Stamford Bridge, and the Colombian believes the former Atletico star is one of the very best in the game.
"Torres is a great striker, one of the best in the world. He has scored some fine goals in his most recent games," Falcao stated to EFE.
"I admire him for all that he has done for football. He is a player I have been keeping tabs on throughout my career."
The former Porto star then looked ahead to the clash with Chelsea, and stressed that Atletico do not fear their opponents.
"Chelsea are a great team and you have to respect them. However, we do not fear them. They have some excellent players who could make the difference, but we have to focus on our own performance.
"We have the quality to cause them all kinds of problems."
Friday's match at Stade Louis II kicks off at 20:45CET.