The Argentine coach has stressed that the Colchoneros have adequate cover for the injured Colombian striker ahead of Thursday's cup encounter
The Colombia international picked up a hamstring injury at the weekend and will consequently miss Thursday's Copa del Rey match against Betis.
Simeone is not too worried, though, as he feels Atletico have more than enough alternatives for the prolific attacker.
"Falcao is a very important part of our team, but we also have Diego Costa, Adrian [Lopez] and Raul Garcia, who can all play in his position and can do it well," the Atleti coach said at a press conference.
Atletico recorded a 2-0 win over Betis in the first leg, but Simeone has warned that the tie is not over yet.
"Betis have great supporters and they always get behind their team. It will be a tough game for us against a team that play good, explosive football. That's what we are worried about.
"They are a tough team and we cannot let our focus drop for even a minute."