The Liverpool striker will replace Manchester United midfielder Ryan Giggs, as skipper for Wales for the first time against Slovakia on Saturday.
Toshack said: “I am confident that he will not let me down. I have known him for a while and his commitment with us has always been first class.
“He gets annoyed with his team-mates, he gets annoyed with himself. He felt at 0-0 in Teplice against the Czechs recently that he missed good chances, that annoyed him.
“And as confident and bouncy a lad that he is, he still knew he should have scored and he apologised in front of all the lads.
“For someone like him that wasn’t easy. But he was right, he saved me from telling him about it.
“When we looked at the alternatives we came to the conclusion Craig was the best candidate to be captain.”
“I don’t think Craig’s commitment to the Welsh jersey can ever be questioned, and I want that to rub off on some of our younger players.”, Toshack continued.
“When you think of who would be captain in Ryan Giggs’ absence, there were not too many choices.
“I talked to Craig about it and he was very happy, and so was I. I am sure it is the right choice.
“You never see Bellamy missing out on a Wales match or a get-together, his commitment cannot be doubted.
“He has settled into the job well, managers sometimes have little hunches that nobody else can understand, but there is always a reason.
“People are talking about the problems he has coming up, but in the few days we have been together I am even more sure it was the right decision.”