The playmaker has had two cameo sub appearances in the last seven games since he returned from injury.
Babunski will be hoping to get some much-needed game time with North Macedonia in their World Cup qualifiers against Liechtenstein and Wales over the next week or so.
Goodwin acknowledges there are times when the 31-year-old struggles with the rough and tumble of the Premiership but there are still games in which he can make his mark.
He said: "David is hugely important to us. A top, top professional.
"He's so good in terms of how he sets the standards in training daily. He never throws his toys out the pram when he's out the team.
"Those are the types of characters that you want around the place. So he's still very important and I've got no doubt will play a big part between now and the end of the season for us."
Babunski was a key figure at the start of the season but has fallen down the pecking order with Craig Sibbald's return from injury and the winter signings of Lewis Fiorini and Allan Campbell.
Goodwin said: "David has been really patient. It was an area we strengthened in January as well.
"Obviously, Allan Campbell coming in and Lewis Fiorini plays a similar position to David. David was a big player for us at the beginning of the season."
The North Macedonian, who had a spell at Barcelona, has also worn the armband at times with captain Ross Docherty out for long spells.
Goodwin said: "At that time when David was playing as many games as what he was playing. We were down to the bare bones in terms of player availability in that area with Sibbs and Docherty obviously out.
"Luca Stevenson was having to fill in for Ryan Strain who was out injured in the early part of the season and we were really limited in terms of the options that we had.
"So David played a lot of games in the...