Townsend followed up his back-to-back eye catching displays with England to net his first Premier League goal for Spurs in their 2-0 win at Aston Villa on Sunday.
The 22-year-old was last week rewarded for his excellent early-season form with a new four-year contract.
And Vertonghen feels Townsend can continue his rapid progress and reach the heights that saw Real Madrid pay Spurs £85.3m to take Bale to the Bernabeu this summer.
“Can he reach the same level as Bale? Maybe one day, if he keeps working, and he will,” said the 26-year-old Belgian.
“He’s young. In two or three years I think he can go to that level.
“He has so much pace and technique and skills and he can do it with both feet. I hope he can keep going like this and he can even be our best player.”