The Newcastle United keeper was brought on deep into extra time specifically for the spot kicks, saving two penalties to see the Dutch side through to the semi-finals.
The midfielder told FIFA.com: "Tim is amazing. It's not easy to come on in the last minute of the game and face penalties. But we know that he is a very good penalty saver and the way he did it was amazing.
"He can be proud of himself and we can be proud of Tim. I think the whole country is proud of him.
"The best thing about tonight is that we never gave up, not during extra time and not at the penalties. We survived today and we're in the semi-finals. In the next match we have to finish our chances."
The Netherlands will face Argentina in the last four.