The Welsh star is valued highly by his team-mates with doubts remaining over his long-term future at the club
Bale has continued to be linked with a move away from the Santiago Bernabeu, with Premier League side Newcastle United reportedly interested if they get taken over.
While Ceballos – on loan at Arsenal from Madrid – feels Bale would suit the Premier League, he reminded critics of the 30-year-old’s exploits in the 2018 Champions League final.
Bale came off the bench to score a double, including a stunning overhead kick, in Madrid’s 3-1 win over Liverpool in Kiev.
“It is a league that would be quite good for him, but he is a fundamental player for Madrid,” Ceballos told Deportes Cuatro on Wednesday.
“Let us not forget everything he has given the club. Whoever does not trust him, put on the Champions League final.
“He has given enough to the club.”
Bale has won four Champions League titles and a La Liga crown among numerous other honours since joining Madrid from Tottenham in 2013.
Ceballos meanwhile is still hopeful of being successful at Real Madrid despite his recent loan spell at Arsenal.
The 23-year-old joined the Premier League side on a season-long loan in July, and he made 24 appearances before the campaign was suspended due to the coronavirus pandemic.
The nine-time Spain international is contracted at Madrid until 2023 and he is eager to take his chance with the La Liga giants.
“I am happy and I have a contract with Real Madrid,” Ceballos said.
“I am 23 years old, I have not passed the rice. Now I feel much more a player and I am prepared for any challenge that comes my way.”
Ceballos joined Madrid from Real Betis for a reported €18 million ($20m) fee in July 2017.
The Spaniard recently revealed he was close to returning to La Liga in January with one club particularly eager to bring him in.
“Yes, my agent told me about the interest of other teams but I did not play because I was coming back from injury,” Ceballos told El Chiringuito de Jugones.
“I started training and changed my situation. In the last month-and-a-half I felt important. I knew about Valencia’s interest.”