Bianchi passed away in the early hours of Saturday morning, nine months after crashing his Marussia into a recovery vehicle in wet conditions at the Japanese Grand Prix.
The 25-year-old suffered a diffused axonal injury and never regained consciousness. The Frenchman's death was the first as a result of an accident during an F1 race since Ayrton Senna was killed at Imola in 1994.
Ecclestone bemoaned the tragic loss of such a young life, but added that F1 safety is at an all time high.
“First he was a very, very, very nice person,” Ecclestone told Sky Sports News.
"Secondly, he was very talented, so it’s a great loss, a loss to the sport and obviously a big loss to his parents.”
He added on BBC radio: "If you were to choose to have an accident today in anything, you'd choose a Formula One (car) because it's probably the safest it's ever been.
"What actually happened to Jules was just very, very, very unfortunate.
"The tractor should never have been there," he continued.
"We've done an awful lot of work to make sure that if a car does go off and hits something, they hit the tyre barriers or whatever, then its all OK.
"Hitting that thing (the tractor), it wouldn't make any difference if you'd hit it with a saloon car…if you'd hit it with a tank you'd have had problems."
The Formula 1 paddock is set to be a somber place ahead of this weekend's Hungarian Grand Prix, but Ecclestone does not expect the tragedy to cause drivers to change their approach.
"No, I think not, I think people forget these things," he said. "Whenever these things happen, you always believe it couldn’t happen to me, so I don’t think that is going to make any difference.
"Everyone knows there is a danger and they live with it."