Beyonce has praised Gwyneth Paltrow as an ''incredible'' friend.

The 31-year-old 'Love on Top' singer, who has a 13-month-old daughter Blue Ivy, has revealed she is grateful to count the 40-year-old 'Iron Man' actress, who is raising daughter Apple, eight, and son Moses, six, among her best pals because they both understand the demands of managing a high profile career and motherhood.

She told E! News at the red carpet premiere of her upcoming HBO documentary 'Life is But a Dream' in New York on Tuesday (12.02.13): ''She is incredible. She's a great friend on every level. I think for us, protecting our daughters is so important and ... keeping things on our own terms, so I will still be protective and make sure [Blue Ivy] has a childhood and a great time.''

Beyonce, who is married to rapper Jay-Z, also revealed that she trusts her own instincts when it comes to raising their child.

She said: ''At some point, you know it is what it is, you can't control it anymore. But I know as long as I'm the mother that I know I can be and the mother I have - such an incredible mother - my daughter's going to be fine.''

Gwyneth, who is married to rocker Chris Martin, recently admitted she is in awe of her friend's work ethic and believes none of her contemporaries can compare.

She said: ''When she is working onstage, she has more power than any woman I've ever seen. She would never say it and has never said it, but I feel she knows with every fiber of her being that she is the best in the world at her job.''