Capello, who managed Real Madrid, AC Milan, Juventus and the England national team across a decorated career, was a guest in the Sky Sport studios as the nine-goal classic at the Parc des Princes was being assessed.
"It was something too beautiful," Capello said. "We thought we would see great football and great play — we saw so many goals. And one interesting thing: the goalkeepers made few saves, Neuer none. When they did shoot, they did so with great precision."
Capello singled out the performance of French winger Olise, 24, who has been in magnificent form for Bayern throughout a season that has seen him establish himself as one of the most dangerous attackers in Europe. Asked whether his performance — and his season as a whole — warranted Ballon d'Or recognition, Capello had no hesitation.
"For me, it will be a great battle between him and Yamal," the Italian said, referencing Barcelona and Spain teenage sensation Lamine Yamal. "Olise is truly something special."
The Ballon d'Or is voted on by journalists across the world and presented annually by France Football magazine. Olise would become the first Bayern Munich player to win the award since Karl-Heinz Rummenigge in 1981 if he were to claim it this year.
PSG hold a 5-4 advantage ahead of the second leg in Munich.