Martinez joined the Portuguese side last summer as a replacement for Falcao, who had moved to Atletico Madrid a year earlier having scored 72 goals in 87 appearances for the club.
However, rather than be threatened by Falcao's record, Martinez has insisted that his sole focus is on making his own "history" at the Estadio do Dragao.
"First of all, I don't like comparisons because I think that everybody has their own style of play," the 26-year-old told UEFA's official website. "Falcao wrote his history here at this club and I'm just starting mine.
"In terms of looking at Falcao as a rival, people might think that but it isn't true. I'm good friends with Falcao, and I see him as a good person and that he is doing his best, just like I do."
Martinez was speaking ahead of the side's last-16 Champions League clash against Malaga.