Faletau has been first choice No.8 on the international stage for the past three years but now faces increased competition for places in the form of 21-year-old Baker.
The Ospreys man has enjoyed a successful season, building on his Wales debut in Japan last summer by notching his first RaboDirect PRO12 try against Treviso in February.
He managed ten games in the league in total over the season, with six of those coming as starts and Newport Gwent Dragons man Faletau conceded he is watching over his shoulder for Baker.
"Dan is playing superbly, he's carrying well and is definitely a find for Wales," Faletau told WalesOnline
"He's only going to get better. There's always people to keep you on your toes but having Dan playing so well can only be good. You can only learn from having competition for places."
To get your hands on tickets for the RaboDirect PRO12 final, visit http://www.rabodirectpro12.com/final/tickets.php
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