Capello took over after England failed to qualify for Euro 2008 and their improvement has been remarkable. Under the Italian they have sealed their place at next year's World Cup with ease, winning every qualifier to date.
Charlton was part of the team that won the World Cup under Ramsey on home soil in 1966 and the former Manchester United player has been impressed with the discipline Capello has instilled.
"He's been marvellous, marvellous," Charlton told Reuters in an interview on Tuesday at the launch of the 1GOAL campaign, promoting an education for every child.
"I can only go back to what Sir Alf Ramsey used to be like in 1966, when he produced a World Cup winning team.
"He was the boss. It didn't matter where you came from, which club you played for or what your status was. At the end of the day, he had the last word. And Capello seems to have the last word.
"It seems to suggest that with a bit of luck and fair wind we have as much chance as anyone."
England play their remaining World Cup qualifiers away to Ukraine on October 10 and at home to Belarus four days later.
The FIFA-backed 1GOAL campaign, launched at Arsenal's stadium on Tuesday, is using the 2010 World Cup to focus efforts on getting school places for 75 million children globally who are denied an education.
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