Having scored 17 goals for Porto in the competition last season, the Colombian had been expected to step up to the Champions League this term either with the Portuguese club themselves or by moving to a bigger team.
Instead, he went to Atletico Madrid and back into the Europa League, the region's much-maligned second tier competition.
"When I came to Atletico, a lot of people said it was a mistake, this is the best way to show they were wrong," he told reporters, clutching the trophy.
Having made an impact with Argentina's River Plate as a teenager, he was expected to quickly move on to Europe.
"He is an admirable player, he also wants more, there is no ceiling to his ambitions," said the Argentine. "I hope he stays with us but I will be happy with whatever is good for him.
"Sometimes experienced players lose that extra something because they have done it before.
"Falcao is not like that, he forgot what he did last year and now he can live [in] the present."
