Vettel is out of contract at the end of the 2020 season and has endured a handful of tough campaigns at Ferrari.
Last year, he was paired up with Charles Leclerc, who, in his first season at the team, managed to end up as the leading Ferrari driver in the standings with the most pole positions of any driver on the grid.
However, Binotto says that Vettel's experience is proving vital for the team, as it has done since he joined Ferrari in 2015.
“I think he came with a lot of experience being world champion,” Binotto stated.
“I think he is a great leader for the team. He is great with the engineers, with the team and with his teammate as well which is important as he is always trying to push us to our best.
“He is always doing the same as well and taking the steps to get himself forward and demanding what he needs from the team which is a matter of the entire team making themselves better which is important.”
Vettel joked: “I think I can be annoying as well, so there is a fine line between demanding and annoying.”
Binotto added that Vettel remains their first option to fill the 2021 seat alongside Leclerc, who recently signed a long-term deal to stay at the team until at least 2024.
“Sebastian is our first option,” he said. “He is very happy to be a part of Ferrari.
“So we are having conversations with Seb about the contract and keeping him with us. We hope very soon to see about this year and close the discussion and see what is the best thing for us all.
“I think what more that matters is the project we are sharing. This will be the true factor to share our agreements.”
Bahrain International Circuit - Winter testing