The former Genesis guitarist admits that he isn't a fan of much of the music in the charts as he can't relate to it.
Steve said: "I usually find what's in the charts quite depressing."
He revealed that he is a fan of bands such as Muse and Elbow and will always praise an artist if he likes their music.
The 70-year-old musician said: "I do enjoy bands such as Muse and Elbow. If I see or hear something that is really good I'll say so."
The musician also dismissed feats that rock 'n' roll is going out of fashion suggesting that music will always have power.
Steve explained: "Music is like medicine. It should never go out of fashion and has magic properties to cure, heal and to reenergise. Music does things that politics can't do or won't do."
Hackett also pointed out that the enduring appeal and impact of acts such as The Beatles shows that music stands the test of time.
Speaking on the Greatest Music of All Time podcast, he said: "Music was a force for such world-changing events, how can that possibly go out of fashion. Think about everything that The Beatles did, that Bob Dylan did – all the serious stuff.
"It's not going to cure famine and hunger and put a man on the moon again but somehow it speaks for the people. It's hugely important whether it's rock and roll or another form.
"I don't think it's over for music at all."