The Spain international believes that Diego Simeone has done well in replacing key men and will be in the mix for major honours once more next term
The 32-year-old helped the capital club to the Liga title and Champions League final last season but elected to continue his career in MLS with New York City via a loan stint at Melbourne City in the A-League.
However, despite his exit and those of Diego Costa, Filipe Luis and Thibaut Courtois this summer, Villa feels the Spanish champions can look forward to another successful campaign.
"They are very good in all positions and will make do without the players who are gone," he told Marca.
"They will be a competitive team again and have a great season."
Villa went on to say explain he is determined to leave "a winning legacy" in America following his MLS switch and revealed he would be ready to be called on by Spain once again.
"It's not only the city, but the project. This company has franchises around the world such as Manchester City and will make the team big," he said.
"I've done a lot in Europe already, a very good career; an opportunity to start from zero, to start over again is something I thought was exciting.
"More and more players in Europe are thinking of coming here to play. I think that's good for MLS.
"I want to leave a winning legacy. One of hard work and dedication so people remember the name David Villa.
"[Vicente del Bosque] knows what I can give. If necessary I will answer his calls; if not, I won't."