Alvarez has been at the centre of transfer talk in recent days after publicly stating his wish to leave Atlético this summer. His head coach addressed the situation in an interview with ESPN.
"He's an extraordinary player, the best footballer we've had at Atlético since he arrived," Simeone said. He also outlined the club's approach to the forward. "He's the player around whom we've thought, as a club and as a team, about building our play. We've done that since he arrived and that remains our thinking."
Asked whether he saw Alvarez as a Ballon d'Or candidate, Simeone was unequivocal.
"Among the best five in the world, without a doubt," he said.
The Atletico Madrid coach also revealed he had spoken with Alvarez during the World Cup.
"Today I actually crossed paths with him, going to see Giuliano for a while. We chatted a bit, mainly about how he was doing, how his ankle was, and how important he is for the team," Simeone said. "He told me he was already doing very well, that he was already at 100 per cent."
Simeone pointed to an improvement in Alvarez's form as the tournament progressed.
"I think in the second match, even without being as sharp as he usually is, he already showed a different rhythm of play and a different intensity in his movements," Simeone said. "And Argentina is going to need him, he's an extraordinary player, the best footballer we have at Atlético Madrid. The numbers speak for themselves too, he has extraordinary numbers, he had very good continuity, he's generated things within the team that a different kind of player brings."
Working for the good of the team
Simeone said he was satisfied with Alvarez's attitude at the club throughout the speculation.
"We're very happy with his work, I can't say anything more than what I've already told you about him, because he's conducted himself well as a person," Simeone said. "He's a lad who has always worked in the best way for the good of the team, and well, hopefully now in this important stretch he has with the national team he can show everything he's capable of."
On the forward's performances on the pitch, Simeone had no doubts.
"He gave the team an offensive hierarchy that's very difficult to find in another footballer," Simeone said. He also praised Alvarez's versatility. "His work as a No.10, as a second striker, especially when he had the chance to play with Griezmann, they had a good relationship, a good partnership, because in the end football is about partnerships, like the one he has with Messi, above all because he's the player he's played with most. He's played less with Lautaro alongside him, but he's a player who adapts to whatever the team needs."
Asked about what happens next with Alvarez, Simeone was cautious.
"His future, above all, is tomorrow's match, and the best thing he can do is focus on that," Simeone said. "Not think about all these things that obviously came out so they don't create confusion for him, and things will get resolved as they always have in life."