The two men could come face to face in Tuesday's last-16 first-leg clash at the Etihad Stadium, as their clubs meet for a second successive season.
And Iniesta paid tribute to the former Chelsea and England man, telling Perform: "Lampard is a reference in football, both in England and worldwide. I can't say much more about him.
"He is really experienced both at club and international level. He's got all my respect and huge credit to him as he's one of those players you can look at and learn."
Barca saw their 11-game winning streak come to an end on Saturday with a disappointing 1-0 defeat to Malaga, while Manchester City put five past Newcastle United in the Premier League.
With both teams still in contention for domestic titles, Iniesta is eager for Barca not to get complacent in their bid for Champions League glory.
"We are at a great level but that shouldn't make us complacent. The fact we're going through a good period doesn't make us favourites," he added.
"The Champions League is a very demanding competition and we will be up against a team full of really great players. Just a couple of mistakes can make us lose the tie so we will just enjoy this moment and try to keep up.
"Champions League is a great competition where everybody tries to get as far as possible. It will be very difficult, we will do our game and then will see what happens."
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