The Argentine coach has taken the time to praise his top-scorer, but has little doubt that they can cope without the attacker on Wednesday
The Colombia international has been Los Rojiblancos' undisputed star player so far this season, but will be rested for the cup match as Simeone feels his side can still compete without the striker.
"This is one of the few moments in the year that we can rest Falcao and we believe that in that case we can still compete well," Simeone told AS.
"Falcao's without a doubt the best centre-forward in the world. We're lucky enough to have him with us.
"It's fantastic to have one of our own on the list for the Ballon d'Or."
Falcao faces competition from the likes of Lionel Messi, Cristiano Ronaldo, Andres Iniesta and Xavi in the race for the Fifa Ballon d'Or.