In 20 games this season, the Argentine has 11 assists to complement his nine goals and has received plaudits for the way he has taken to more of a playmaker role alongside the in-form Neymar.
And the Dane, who played at Camp Nou for five years until he left for Santiago Bernabeu in 1994, heaped praise on the Argentine for his more mature style of play.
"The Messi of the early years was a phenomenon, but he always wanted to finish off the move," Laudrup told Cadena Cope.
"Now he goes past one, two or three players and is happy to give an assist to a team-mate - it makes him more dangerous and more difficult to stop than ever before."
The former Swansea coach is amazed how Messi and his Real Madrid nemesis, Cristiano Ronaldo, show no sign of relenting in quality after half a decade of going head-to-head in La Liga - though he warns Saturday's Clasico has many other matchwinners in waiting.
"That Messi and Ronaldo continue playing so well is amazing," Laudrup added.
"Both of them want to keep it up as they've been the two best players in the world for a couple of years.
"However, Neymar, Karim Benzema, Andres Iniesta, Luka Modric and James Rodriguez can also decide a game. On both sides there are three or four capable of doing so."