The Ferrari driver saw his Formula One title dreams crushed for this season when he failed to finish in the top two at the Mexican Grand Prix.
But he put that disappointment behind him when he won last weekend's Brazilian Grand Prix at the Autodromo Jose Carlos Pace.
Vettel's victory in Sao Paulo meant he's almost certain to finish second, ahead of Valtteri Bottas, in the 2017 drivers' standings.
Di Montezemolo has fired a warning to the German about Hamilton's comparable talent though.
Lewis Hamilton CRASHES out in qualifying for the Brazilian Grand Prix
Sat, November 11, 2017
A week after Lewis Hamilton won his fourth world title, the Brit crashed out during qualifying for the Brazilian Grand Prix
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Lewis Hamilton crashes out of qualifying for the Brazilian Grand Prix
Sebastian Vettel: Lewis Hamilton NOT a threat – Mercedes car quicker
Hamilton and Vettel CANNOT be on the same team, Alonso best – Briatore
We are all happy with Ferrari's victory, but we must not forget that the protagonist was out
Flavio Briatore on Sebastian Vettel's win at the Brazilian Grand Prix
"I am delighted with Ferrari's victory," the former Ferrari president said on Radio Capital.
"Unlike finance and economics, sport is not an exact science. It is easy to talk but much more difficult to win.
"Ferrari had a good season, but unfortunately did not win the title.
"And I think that in Brazil Hamilton would have won if he had started from pole."
Ferrari driver Sebastian Vettel came out on top at the Brazilian Grand Prix
Luca di Montezemolo suggested Lewis Hamilton could have beaten Sebastian Vettel in Brazil
Former Benetton and Renault chief Briatore echoed Di Montezemolo's comments.
"We are all happy with Ferrari's victory, but we must not forget that the protagonist [Hamilton] was out," he said.
"And we all saw his comeback."
Vettel and Hamilton will go head-to-head for the final time this year when the F1 season concludes in Abu Dhabi on Sunday November 26.