"Casillas is the best goalkeeper in the world," he said. "He is the best player you could ask for in your team.
"The other day (against Barcelona in a 2-2 draw at Camp Nou), those two goals were really difficult for him. The first one was only a few metres away and the second was an incredible free kick.
"He is the best in the world and he has saved us many times."
Albiol added that the Madrid goalkeeper should be a candidate for the FIFA Ballon d'Or award this year.
"I would put Casillas on the list of candidates for the Ballon d'Or," said the 27-year-old. "He has won the Liga and the European Championship this year and I think he was key for Real Madrid.
"It's unusual for a goalkeeper to win it but for me he is on the list."
Albiol joined Madrid from Valencia in 2009.