The 46-year-old has voiced his opinion that the Colombia international is as good as his fellow La Liga stars, and feels Atleti have the quality to be successful this term
Falcao has been in impressive form in the opening months of the 2012-13 campaign, netting 12 goals in eight official appearances for Atleti, and Futre believes that he is among the best players in the world.
"Falcao is enjoying an excellent moment, and along with Cristiano Ronaldo and Messi, he is at the summit of world football," Futre told Antenna1.
"He is a different player [to Cristiano and Messi], he is more of a classic striker. He won the Europa League and the European Super Cup by scoring five goals in the two finals. He's incredible."
Futre also had his say on Atletico Madrid's ambitions this season, and stressed that they could go far in both La Liga and Europa League.
"Atletico have been playing very well in the league and in the Europa League. They are a strong team and will be very difficult to beat."
The Colchoneros resume league action at home against Osasuna on Sunday.