The 23-year-old says he idolised the Frenchman, Ronaldo and Roberto Carlos during their respective playing days at the Santiago Bernabeu
The 23-year-old has signed a six-year contract at the Santiago Bernabeu after Madrid agreed an €80 million deal with Monaco - making him the third most expensive Blancos player of all-time after Cristiano Ronaldo and Gareth Bale.
The Colombia international was paraded in front of 40,000 supporters on Tuesday evening and revealed he has always been a fan of the club and the man now in charge of the club's reserve side.
"I always idolised Zidane," James revealed after being presented to the media.
"Zidane, Ronaldo, Roberto Carlos. I was always a Real Madrid fan. I always followed them and always dreamed about being here."
Falcao - who has played alongside James for Colombia and Monaco - has been tipped to follow him to Madrid, but the former Porto star says he hasn't discussed that prospect with the striker, but admitted he is more than good enough to play for the club.
"He's not told me anything. We don't talk about it. Falcao's a great goalscorer and could play here, but that's for the club."
Despite following the likes of Clarence Seedorf and Luis Figo in wearing the famous No.10 jersey for Madrid, James added his willingness to operate in any position coach Carlo Ancelotti sees fit.
"I'll play where the gaffer decides. In the middle, on the right or on the left."
The South American star will battle it out with Cristiano Ronaldo, Gareth Bale, Karim Benzema, Angel Di Maria and Isco for a place in Madrid's front four.