The Radiohead frontman features on the track 'Electric Candyman' on Flying Lotus's new album Until The Quiet Comes, following their previous collaboration 'And The World Laughs With You' for 2010's Cosmogramma.
"The thing about Thom is that he knows what he likes and I love that about him," Flying Lotus told Digital Spy.
"He knows when things work and they don't. He doesn't bulls**t in that way. He spends his time wisely. I wish I could say that about a lot more people."
Of reports that he was due to remix tracks from Radiohead's last album The King of Limbs, he added: "I was into the idea until they got everybody to make remixes.
"When it became 'a thing', I was like, 'Nah, I'm cool'. Let other people do it."
Flying Lotus added of his upcoming release: "I fell like the last couple of albums I made I had a lot to prove. Trying to set myself apart from a lot of my contemporaries. Trying to find the story I wanted to tell in my work.
"I feel with this one there's a lot more confidence in myself and my ideas. Maybe it's a lot more intimate-feeling."
Of being signed to Warp records, he added: "I love the label, I'm a fan. I've always liked the stuff they put forward, especially in the golden era of Warp.
"They fell in love with the work before a lot of other people tried to find me. I thought that was the biggest compliment I could get."
Until The Quiet Comes is released on October 1 on Warp through Inertia and is available for pre-order now.
Watch the Flying Lotus 'Putty Boy Strut' music video below: