The veteran musician has heaped praises upon the hip-hop star for his new record 'Yeezus', commending its ''moments of supreme beauty and greatness'' in a review for The Guardian newspaper.
The surprising revelation comes after Kanye's fifth album - which has so far divided both critics and fans - debuted at number one in the Billboard album chart last week, selling 327,000 copies.
Lou was impressed by Kanye's experimental new sound, and while he admitted ''some of it is the same old shit'', he added, ''The guy really, really, really is talented. He's really trying to raise the bar. No one's near doing what he's doing, it's not even on the same planet.''
The former Velvet Underground frontman is no stranger to trying new sounds, once recording a two LP-set called 'Metal Machine Music' which consisted entirely of grinding guitar sounds.
Captivated by Kanye's constant jump-cuts and unusual arrangements, he wrote: ''I have never thought of music as a challenge ... And it works. It works because it's beautiful - you either like it or you don't - there's no reason why it's beautiful.''
However, much like the rest of the world, Lou remains unimpressed by Kanye's misogynistic and crude lyrics which he finds alienating.
The 71-year-old singer joked: ''Many lyrics seem like the same old bullshit ... Usually the Kanye lyrics I like are funny, and he's very funny here.
''Although he thinks that getting h**d from nuns and eating Asian p****y with sweet and sour sauce is funny - and it might be, to a 14-year-old, but it has nothing to do with me.''