The Sherlock star was previously quoted as saying that he was "cynical" about the casting of his Frankenstein co-star Jonny Lee Miller in the CBS series, before then claiming that his apparent criticism was a "misquote" and that there was no feud between the two shows.
"I've seen [Elementary] and it's absolutely fantastic," Cumberbatch told an audience at the Cheltenham Literature Festival, according to the Radio Times. "It's really good, you should all watch it."
He added: "Under no circumstances would I want Jonny to have anything but a rip-roaring success because, first and foremost, he is my friend."
Cumberbatch admitted that, while he was originally "cynical" about the choice of Miller due to the pair's Frankenstein association, his feelings were not directed towards Miller himself.
"I've yet to go and talk to [the producers] about where their original thoughts came from to cast him, but I know for a fact that they kept on going back to him so he must have knocked it out of the park in the auditions," he explained.
"[Jonny is] phenomenal; he's completely different; he's far more contained. He's stunning to watch as well - he's just a beautiful specimen, Jonny – and he really knows what he's doing, he's completely got under his skin and it's another Sherlock for he 21st century."
The 36-year-old concluded by saying that he wishes to "put a cap" on stories of a rivalry and accusations that he is "not happy" about Elementary.
"I do wish him all the best with it, he's got a phenomenal job ahead of him because he's got 12 or 13 episodes and maybe a five-year series," Cumberbatch said.
"There was anther two sheets worth of fish paper in The Times today about [the supposed rivalry] – apparently I'm not happy about it, apparently Steven [Moffat]'s not. I mean, it's just fine... it's more than fine, it's brilliant."
Lucy Liu - who plays Joan Watson in Elementary - previously stated that the makers of Sherlock had seen the US show and approved of it.
"I thought that the creator from the original Sherlock had seen the pilot and he said that he was really impressed and pleased with how it turned out, and he saw that the correlation was completely different," the actress suggested.
Elementary continues on Thursday nights on CBS and will air on Sky Living from October 23.
