The Netherlands international is already widely acknowledged as one of the finest shot-stoppers in the Premier League.
That reputation was enhanced on Sunday with an inspired showing during a 1-0 victory over Tottenham Hotspur at White Hart Lane - which saw him make a division-high 14 saves.
Tiote was not surprised to see Krul shine in the capital, with the 25-year-old one of the best in the business when free of injury and on top of his game.
He said in The Sun: "We just said thank you to him, he was the best on the pitch and we hope he continues.
"Tim is one of the best in the Premier League and, if he continues, he will be one of the top, top goalkeepers."
Tiote has also praised Magpies boss Alan Pardew for masterminding back-to-back victories over top-four hopefuls - with the win over Tottenham coming on the back of a 2-0 success at home to Chelsea.
He added: "We have a very good manager, he is open and talks about everything with the players.
"He trusts us and, in tough games like Tottenham and Chelsea, tells us to believe in ourselves. If you don't have confidence, it is difficult to win.
"Not one player can win the game so we have to do it together to win, that is the key."
Tiote has been in possession of the captain's armband as Newcastle have ignited their season, but he will be more than happy to pass that particular duty back to Fabricio Coloccini once the Argentine defender returns to full fitness.
He said: "If Colo is fit and comes back, he will be captain."