Bailly was handed a surprise start for the Red Devils in the Premier League clash at Stamford Bridge with Victor Lindelof unavailable through illness.
The Ivory Coast international made a string of important challenges during his side's 2-0 success, and Solskjaer was keen to pay tribute to the defender when questioned after the match.
"Absolutely fantastic, Eric is a top defender. His block from [Mateo] Kovacic was out of this world, he is quick, strong, brave as a lion. It is great to have him back," Solskjaer told reporters.
The 25-year-old had not played a single minute of first-team football for United this season ahead of Monday's affair having undergone knee surgery at the end of July.
The Red Devils are next in action against Club Brugge in the Europa League on Thursday night before hosting Watford in the league next weekend.