Affleck, 40, confided in Damon about his insecurities saying he felt his movies were unsuccessful and he was more in demand for magazine shoots, reports femalefirst.co.uk.
Recalling a conversation Damon had with Affleck in 2003, he said: "I would call him from Prague and say 'How're you?'. He'd go 'You know, I'm in the absolute worst place you can be. I can sell magazines, but not movie tickets. I'm in f***ing jail.'
"I was like, 'It's going to be a long, long, long walk back up the hill.' But he knew he could do it because he's a writer, he's a director, he's incredibly talented," added Damon.
Affleck may have had a rough patch in the movie industry, but this year he hit the bull's eye when his historical thriller "Argo" won best film Oscar. Damon is happy for his friend.
"He just took a public beating for a long time. Now he's so beyond all of that s**t. Now, when I tell people how great he is, they don't roll their eyes anymore. They agree!" Damon told Total Film magazine.