Buffon reckons the Englishman is not far behind the game's elite youngsters following a string of impressive displays in the Champions League this season.
The Italy international will get a closer look at Forster when Juventus play Celtic in the last 16 of Europe's premier club competition.
And Buffon insists Forster has the potential to rank alongside Manchester City's Joe Hart, Bayern Munich's Manuel Neuer and Salvatore Sirigu of Paris Saint Germain.
Buffon said: "Of course I know about Fraser. I watch all the top young goalkeepers in the world and I'm sure he can become one of them.
"The top three young goalkeepers in the world for me are Hart, Neuer and Sirigu. It will be one of those three who will go on to be the best in the world but if Forster keeps on playing like he is there is no reason he can't be close to or even in that group.
"In a goalkeeper I don't just look for the great saves but for the authority and confidence he shows.
"As a goalkeeper you can make only one or two mistakes a season if you want to be the best.
"It's in the big games where you see character because that is where you are most likely to make mistakes. I have seen both games he played against Barcelona now and not only did he make great saves he looked confident. He didn't look like a goalkeeper who was going to make a mistake."