The two sides meet in Saturday's Champions League final in Kiev, with Los Blancos looking for their third triumph on the trot as the Reds look for their sixth in history.
Liverpool and Real Madrid have thrilled on their way to the final, with Jurgen Klopp's front three of Mohamed Salah, Sadio Mane and Roberto Firmino boasting 29 goals between them.
But Del Bosque, who also coached Madrid for a spell, expects Liverpool to be blunted on Saturday as Real boast a better squad across the board.
"Real Madrid have a great squad, and it's the best club in Europe right now,” Del Bosque told Spanish outlet COPE .
"They have to ratify that on Saturday. Real Madrid will beat Liverpool 4-1.
"I cannot find a single Liverpool player that improves Real Madrid, [not even] Salah. [Gareth] Bale and [Karim] Benzema are very good.
"Benzema is a great player too, sometimes [he can go] cold, but he has given an extraordinary performance, and Cristiano Ronaldo makes them all better."