"They love being on the road," the singer, 42, tells PEOPLE. "They're very musical kids and they are little artists. They're little mini-me's!"
And should Valentino and Matteo, both 5, choose to go into showbiz, this proud papa will be their biggest fan.
"I don't know what's going to happen in the future, but whatever they choose and whatever they decide to become, I will be right there supporting them," he says.
The star's adorable family of three may also soon be getting a little bigger with the addition of "a little princess."
"I want daddy's little girl," he says. "[Being a parent] enhances everything. I'm only starting … I want more kids!"
For now, Martin's third "baby" is his foundation's center for exploited children in Puerto Rico, which is set to open in October.
"Children are being forced into prostitution and pornography, and what I'm trying to do specifically in the center is bring children in who have already been victims of exploitation," Martin explains.
So far, 160 children have already been chosen to attend the school, which will be centered on the arts. "We're going to give a holistic approach in our education system and just offer them choices … rehabilitate them and let them know there's a very beautiful life outside of exploitation," he says.
With so much going on, Martin doesn't have much time for dating these days, but he hasn't ruled out the possibility of romance.
After splitting with longtime boyfriend Carlos Gonzalez Abella in January, he's looking for someone who "has the same vision in life."
"I am more of a dreamer, so I want someone that is a little bit more realistic than me … someone that can complement my creative madness and can bring me down when I'm in the middle of my creative chaos," he says. "I love commitment."
Visit www.Omaze.com/RickyMartin to enter for a chance to join Ricky Martin at the finale of The Voice Australia (each entry benefits The Ricky Martin Foundation).