Both Chelsea and Liverpool have won the competition in the past three years with City and Tottenham making the final, leading to suggestions that English football is dominating the continent.
But Guardiola, who won the competition twice as Barcelona coach, believes the LaLiga sides of the past decade strung together a more imperious reign.
“We have to wait to see if England can match what Barcelona, Real Madrid, Atletico and Valencia did. All four English teams have qualified and that is a big success for the Premier League.”
But the City boss expects a tough game from Leipzig, who sacked manager Jesse Marsch on the weekend while sat third in Group A and 11th in the Bundesliga.
He added: “I respect a lot the impact the people from Red Bull create. I expect an aggressive team. We’ll be pressed.
“They’ll make incredible transitions. We have to be able to play a lot of touches ourselves. We cannot compete with the rhythm they like to play.”