"She is what it means to be a superstar. No one else can sing and dance like that, while having humour and genuine bursting sweetness. She has her own recipe for it," Paltrow enthused.
"I wanted my own character [in Country Song], to have some of that mega-wattage. So I studied B. She was my homework."
Beyonce and Paltrow's other halves, Jay-Z and Chris Martin are also great friends and the Iron Man star said they all get on so well because there is no ulterior motive.
"We have very similar values," Paltrow says of the foursome. "We have also been able to become each other's support systems over the years, as none of us needs anything from the other."
Beyonce turns 30 on September 4 and she revealed the big milestone means a lot to her.
"This is such a pivotal moment in my life! I'm transitioning as a woman, and I'm finally able to express myself as I am," she said.
-AAP