The Who frontman was asked if he agreed with Sir Paul's recent comment that the Stones were "a blues cover band" when comparing them to the Beatles.
Daltrey, 77, told the Coda Collection: "You can not take away the fact that Mick Jagger is still the number one rock ‘n’ roll showman up front.
"But as a band, if you were outside a pub and you heard that music coming out of a pub some night, you’d think, ‘Well, that’s a mediocre pub band!' No disrespect.”
The My Generation singer added that the Rolling Stones wrote “some great songs, but they are in that blues format.”
And Daltrey said he could not compare the Rolling Stones and the Beatles, saying it was like trying to contrast cheese with apples.
He said: “They’re both really tasty, but the cheese does one thing and the apple does another."
McCartney, 79, recently told The New Yorker: “I’m not sure I should say it, but they’re a blues cover band, that’s sort of what the Stones are. I think our net was cast a bit wider than theirs.”
Rolling Stones frontman Jagger responded by making a joke about the remark at a recent concert in Los Angeles.
Sir Mick told the crowd: “There’s so many celebrities here tonight... Paul McCartney is here, he’s going to help us – he’s going to join us in a blues cover later.”
Daltrey founded The Who along with Pete Townshend and John Entwistle in 1964, after the trio met at school in London, and the band’s popularity has endured over the decades.
The rockers have released 12 studio albums, with their latest, entitled Who, unveiled in December.
They have also enjoyed several top 10 singles, including I Can’t Explain, My Generation, Won’t Get Fooled Again and Substitute.
Watch: Sir Mick Jagger tours Las Vegas