The Argentine coach says he would happily help the Colombian depart if he decides to move on
The Colombia international has been linked with a move away from the Spanish capital, with a host of Europe's biggest clubs and Ligue 2 champions Monaco said to be vying for his signature.
"I don't know anything official yet," Simeone told Marca.
"I've known him since he was a child and I wish him all the best. If he feels that he needs to make a move, I'll be happy for him.
"If he stays with us, I'll be happy too."
Falcao moved to the Vicente Calderon from Porto two summers ago and led los Rojiblancos to the Europa League title last season, before lifting the European Super Cup and Copa del Rey this term.
It was believed he had agreed a deal to join Chelsea at the season's end, along with Real Madrid coach Jose Mourinho, but Monaco are now looking to scupper the move, with coach Claudio Ranieri confirming that he is optimistic that the Colombian will arrive at Stade Louis II.
Falcao scored 34 for goals in all competitions for Atleti this season, helping them to secure a third-placed finish.