The England and Wales Cricket Board confirmed on Wednesday that Farbrace would assist new head coach Peter Moores, and Cook believes that the duo will work well together.
"I was coached by Farby when I was 15 and then again when I was 17, so in the county game he's been at Yorkshire and Kent," the England captain told reporters.
"I've been involved with him a little bit there, I haven't seen him for a couple of years, but he's someone who has got a great record, and it's a good combination to have between those two.
"I can't remember our exact first meeting, but a fair few things have changed, in a good way, obviously."
Cook continued to find form with the bat on Wednesday by scoring his second century of the season for Essex in a drawn game with Surrey.