The upcoming film has endured a fierce backlash from fans following the announcement that the titular heroes have been reimagined as extraterrestrials, but the comic book writer insists that it will be the "best" Turtles movie to date.
He told MTV: "From what I've seen, it's easily the best Turtle movie yet. We're talking Raid: Redemption-style fight scenes; we're talking about epic Rise of the Planet of the Apes sort of effects.
"I know that Michael and his group really like [the changes] and that Paramount was supportive of that."
He added: "I think that it's great. I grew up reading Captain America and The Avengers and all that stuff, and over the course of the comic book history, since Avengers has been around, how many times has it been reinvented, reformatted, restructured, replatformed?"
Bay is producing the movie, with Jonathan Liebesman (Wrath of the Titans) directing from a screenplay by Mission: Impossible - Ghost Protocol writers Josh Appelbaum and André Nemec.
Teenage Ninja Turtles recently had its release date postponed and will now arrive in cinemas in May 2014.
Photo gallery - Teenage Mutant Ninja Turtles' on-screen evolution in pictures: