The Blaugrana have earmarked the 21-year-old as a potential replacement for current first choice goalkeeper Victor Valdes, whose contract expires at the end of the season and will not be coaxed into signing a new deal.
And Neuer feels the Gladbach star has the potential to become one of the best in his position.
"There is no doubt about it that Ter Stegen is a great goalkeeper. He is a player with a big future ahead of him," Neuer was quoted as saying by AS when questioned about his compatriot.
"He is sensational. He is very agile and always knows how to deal with complicated situations. He is a superb shot-stopper.
"I don't know whether he's ready to play for a team like Barcelona yet. That's a decision their technical staff will have to make."
Ter Stegen's contract with Monchengladbach runs until the summer of 2015.
