Ribery was on target twice on Wednesday as Bayern moved closer towards qualification for the UEFA Champions League knock-out stages with a 5-0 win over Viktoria Plzen.
The Frenchman has already scored seven goals in all competitions this season after helping them to win the treble last season.
And Rummenigge feels that the Champions League holders possess the best player on the planet in Ribery.
"At the moment, Franck is probably the best player in the world," he said.
"If he carries on like this, he is heading in the right direction to have a very good chance in the running for the FIFA World Player of the Year award in January.
"I think that is one of his ultimate goals."
Ribery will look to continue his excellent recent form when Bayern host Hertha Berlin in the Bundesliga on Saturday.
Get the best features, fun and footballing frolics straight to your inbox every week.
Thank you for signing up to Four Four Two. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.