The 22-year-old impressed during the Welsh's 2-1 defeat to Macedonia on Friday and won his side's penalty before converting it for the equaliser at the Philip II Arena.
The midfielder was named as Arsenal's Player of the Month for August, and Bellamy feels that Ramsey is currently better than ever.
"I've taken more of an interest in him than any other Wales player because his father is from the same area of Cardiff as I am," Bellamy told reporters.
"I've known about him since he was coming up as a kid. You have a lot to deal with when something like that (the broken leg suffered against Stoke City February 2010) happens to you.
"There isn't a person out there in football who didn't expect that kind of performance from him at the moment. He's been capable of it. We are seeing it and it's the best I've seen him."
Wales host Serbia in their latest World Cup qualifier on Tuesday.