It's been suggested Real will seek to buy a new centre-half in January after losing Ede Militao to an ACL injury.
But Canizares told Marca of Asencio: "I like him a lot, he played with my son Lucas at Castilla. I think he's a great player, he's fast and powerful, he's good at aerial play, he's got the height that's needed these days to be a centre-back and he's good at moving the ball.
"He's a young lad and young centre-backs make mistakes easily, just like young goalkeepers. You have to put them in because they have to play, they have to learn by making mistakes. He just needs some games because he has the conditions."
On the idea of Sergio Ramos returning, he said: "I don't see it. Clubs and players end their stages and second halves are not usually better than the first. In Florentino's (Perez, president) mind I think this is not happening and it is not going to happen."