Falcao joined Ligue 1 juggernaut Monaco at the start of the season for a fee believed to be worth €60million, ending his two-year spell in Madrid.
Many had tipped Atletico to struggle following the departure of the star striker, who netted 52 goals in 68 La Liga appearances.
However, Atletico have flourished under the leadership of Diego Simeone, with the club four points clear at the La Liga summit with three games remaining and poised to win their first league title since 1996.
The Madrid outfit are also in semi-finals of the UEFA Champions League.
Speaking to Spanish newspaper Mundo Deportivo, Falcao said he was 'very happy' with the situation at the Vincente Calderon.
"I don't have any envy of Atletico," the injured Colombia international said. "I feel mostly very happy for what is happening at the club.
"I made some great friendships and had some important moments while I was there.
"It's life, in the life of a footballer you have changes and you can't have everything.
"I am very happy for what they are doing and I want the best for them."
Atletico are one leg away from reaching the Champions League final, which would be their first appearance in the decider of illustrious club competition since 1973-74, when they were runners-up to Bayern Munich.
Standing in their way are Chelsea, who held the Spanish team to a goalless draw away from home, leaving the tie in the balance ahead of the return leg at Stamford Bridge on Wednesday.
Meanwhile, Falcao talked up Mario Balotelli's potential switch to Monaco after the Italian striker was again linked with a transfer away from AC Milan.
"I think Monaco have a very ambitious project and it's normal for us to be linked with names like Balotelli," said Falcao, who has continually been touted as a target for Chelsea.
