The fixture in Lviv will be Shakhtar's first competitive fixture of 2015, while Bayern have found their feet after the Bundesliga's mid-season break and smashed Hamburg 8-0 on the weekend.
However, Guardiola remains guarded against a side he has previously come unstuck against, and one that possesses this season's top scorer in the Champions League, Luiz Adriano.
"I respect Shakhtar and their coach Mircea Lucescu very much," he said.
"This is a very smart coach who has created one of the best teams in Europe.
"I played against Shakhtar five times with Barcelona and although we had a really amazing squad it was always so difficult.
"You may remember the UEFA Super Cup match when we scored only in extra-time. Once they defeated us at home.
"I told my players: 'If you beat Shakhtar then you can be very proud because they really are one of the top teams.'
"They have a great striker in Luiz Adriano. Douglas Costa, Marlos, Taison, Alex Teixeira are all great players.
"And I have special words for their captain Darijo Srna. I have watched him a lot for club and country. He would be a talisman in any team in the world."
Guardiola expects to have Xabi Alonso available to call upon. The Spanish playmaker sat out Bayern's thrashing of Hamburg due to a thigh injury.
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