The welsh hit man told football365.com: "Deano has had a big, big injury - and I know what that is like when you are out for a year.
"He needs to get himself right, get his ankle right and then get games under him.
"It took me a while to get my confidence back after a similarly big injury - but as soon as he gets it right, we'll all know about it.
"He's a top player, and I'm looking forward to seeing him back in action."
And Bellamy has high hopes for West Ham's 07/08 campaign: "Pre-season is a tough time for any team, and losing Scott [Parker] for four weeks is a big blow. But we've got a good squad here, and I knew that before I signed.
"I knew a lot of the players here before I came, and there's quality throughout the squad.
"We've got a good chance this year, and I think Europe is a possibility.
"That's the first glimpse I've had of Freddie, but I know what a talent is. He is exceptional, and everyone at the club is excited by him being here."