Falcao scored 36 times for Atletico last season and is currently joint-second in La Liga's scoring charts this season with Ronaldo on nine goals. Simeone has said that there is no reason why Falcao should not be considered among the world's best.
"He was the leading scorer in the last two Europa Leagues, won them both [and] won the European Supercopa," Sky Sports News quotes Simeone as saying. "He is among the three best players in the world.
"Ronaldo and Messi have shown what they can do but he has nothing to be jealous of anybody else for."
Falcao has 15 goals in 40 caps for Colombia.