Falcao joined Atletico in the summer for €40million from Porto, and while he enjoyed a strong start to life at the Vicente Calderon, he eventually stagnated midway through the campaign.
However, since the season resumed following the winter break, Falcao has hit five goals in his last two games, something which has coincided with the arrival of Simeone, who took over from Gregorio Manzano in December.
And the effect Simeone has had at the club has not been lost on Falcao, who also played under the Argentine at River Plate.
"Simeone knew me from us having worked together at River," Falcao told AS. "He knew how to get the best out of me, how to realise my potential.
"He's a very passionate coach in everything he does. He has very clear concepts of how he wants to manage the team and gives us a lot of intensity.
"The message is effort and that we are a whole, and we do everything together in terms of attack and defence.
"The most important thing is that every one of us does our best for the good of the group so that we can soon be close to the Champions League places."
Atletico have been unbeaten and are yet to concede since Simeone took over, and have risen to 8th in La Liga after two wins and a draw in three matches.