Mount scored late on to seal a 2-0 win for Chelsea against Real Madrid in the second leg of their semi-final at Stamford Bridge as the Blues went through 3-1 on aggregate.
Chelsea will play Manchester City in the Final on May 29 and Cole was full of praise for Mount after the midfielder booked his boyhood club a place in Istanbul.
Mount has been at Chelsea since he was six and Cole said his goal was fitting after a difficult few weeks for football following the European Super League fiasco and the recent social media boycott in protest against online abuse and discrimination.
Speaking on BT Sport, Chelsea legend Cole said: “In a couple of weeks where we have seen the ugly side of football.
“For Mason Mount to score the winning goal, he has been at Chelsea since the age of six, he has seen this club win trophies, lose trophies, he would have sat in these stands.
“For him to be the player to put the finishing touches on what was a top-drawer performance from back to form.
“For Mason to do that, that tells me that the romance is still in football.”