The Dane picked up the 27-year-old for £2.2 million from Rayo Vallecano at the start of the season, and the Spaniard has been prolific in helping the Swans to a first ever major domestic triumph with the Capital One Cup and a possible top-ten finish in the Premier League.
|PREMIER LEAGUE LATEST
|25/1||Michu is 25/1 to score first in a Swansea win over Chelsea on Sunday
"Michu has been outstanding, more so than anybody expected, and he’s won a trophy too," Laudrup told reporters. "Everybody now recognises that maybe he has been the best buy for many, many years. There is so much quality with him."
Michu has earned the Welsh club a total of eight points through his equalisers or winners, but his Swansea manager has warned fans that the crowd favourite may not be able to repeat his remarkable feats next season.
He continued: "We can’t put all the pressure on his shoulders for goals next season and always expect him to score. We will need to find goals from other places."
Despite his achievements in his debut season in England, Michu was overlooked for the PFA Player of the Year shortlist.
Laudrup has previously stated that the omission proves a bias against the league's smaller clubs, and has now backed Tottenham talisman Gareth Bale to win the award.
He added: "I’d go for Gareth Bale. He’s a fantastic player and has had a huge impact on the season."