The Ready star spoke at a launch for the soundtrack of romantic comedy Ishkq in Paris.
He told New Kerala: "Emraan Hashmi is the most underrated actor and now he should get his due. He has given hit after hit. He is damn good as an actor. I really like him."
Hashmi called Khan "encouraging" last week after he was compared to the industry veteran.
The younger actor has appeared in the box-office hits The Dirty Picture, Jannat 2 and Raaz 3.
In May, he said he was fed up of being called an "underdog" despite the success of his films.
Hashmi has said that he only wanted to be an actor after the controversial Murder was a hit.
Watch Emraan Hashmi in the trailer for Jannat 2 below: