Conte has only been in charge of Juve for 18 months, but already has won the Scudetto unbeaten, the Italian Super Cup and reached the Coppa Italia Final.
"Conte is a true star," Nedved told the official Juventus website.
"I really like his way of thinking. He manages to get his humility across and that leads to successful results. A comparison with Lippi and Capello? His relative youth means that he hasn't won as much as them as a Coach yet, but he'll no doubt catch up with them. He's one of the best.
"To become a top Coach you have to be able to get your ideas across to the players, to get your personality across. He knows how to do that, and when I go to the stadium and watch Juve play, I really enjoy myself.
"The side has strength of character, it presses the opposition, the players are always looking to score."