Both sides have been in exciting, swashbuckling form in Europe, with the Reds scoring 17 goals in just six knockout fixtures, and Real hitting 13.
Mohamed Salah has inspired Liverpool's superb run to the final, scoring 10 goals in 12 appearances in Europe's premier club competition, but Del Bosque does not believe the Egypt international would make Zinedine Zidane's starting XI.
Indeed, the 67-year-old, who won the Champions League and La Liga twice apiece during his reign at Santiago Bernabeu, believes the final could be something of a rout.
"Real Madrid have a great squad, and it's the best club in Europe right now,” Del Bosque told Spanish outlet COPE .
“They have to ratify that on Saturday. Real Madrid will beat Liverpool 4-1.
“I cannot find a single Liverpool player that improves Real Madrid, [not even] Salah.
"[Gareth] Bale and [Karim] Benzema are very good.
“Benzema is a great player too, sometimes [he can go] cold, but he has given an extraordinary performance, and Cristiano Ronaldo makes them all better.”
Del Bosque also won the World Cup and the European Championships with Spain in 2010 and 2012 respectively.
Liverpool prepared for this weekend's final with a 4-0 win over Brighton on the final day of the Premier League season, two weekends ago, while a rotated Real XI drew 2-2 with Villarreal on Saturday.