The Colombia international earned the praise of his former Rojiblancos coach after scoring a fantastic double in Wednesday's Europa League final
The former Porto man has now won the trophy in two consecutive seasons with two different teams following Atletico's 3-0 victory in Bucharest on Wednesday.
Falcao's first-half double put the Madrid outfit on the best foot forward before Diego secured the result late on, and Manzano, who formerly coached the 26 year-old before being replaced by Diego Simeone in December 2011, lauded the growing prowess of the striker.
"Falcao has a tremendous eye for goal, and has proven his ability to score against a similarly high-profile team," the Spaniard noted to Marca.
"I am very happy for the project I started last year. Winning the Europa League has been a wonderful climax."
Nevertheless, Manzano was quick to point out that the team had to redirect focus to the task at hand by beating Villarreal this weekend and qualifying for next season's Champions League.
"While a European title is something to be taken into account, Villarreal will not be easy. The team has to turn their attention to address the game immediately.
Atletico Madrid lie fifth in La Liga on 53 points, and must hope for Malaga to slip up in Spain's final round of league matches to stand any chance of qualifying for Europe's most prestigious club competition.