The pair clash in the last 16 of the UEFA Champions League with the Hoops having already disposed of Benfica and Spartak Moscow in the group stages, and claimed a sensational victory over Barcelona.
The Serie A champions are hot favourites to progress but Lennon refuses to rule out his side becoming the first from Scotland to reach the last-eight of the continent's premier tournament.
"I think we have been underestimated throughout the whole campaign and going into this game we are being made out to be massive underdogs," he said.
"But I don't quite see it that way myself and there is a real belief that anything can happen over two games.
"We go into the tie as underdogs but nothing is going to be decided at the end of 90 minutes. It is over two games and we are prepared to play hard football over 180 minutes.
"They have excellent strikers - Mirko Vucinic, Fabio Quagliarella, Sebastian Giovinco - and have also brought in Nicolas Anelka.
"But the one who has caught my eye is Alessandro Matri, he looks an excellent young player.
"They are very strong in midfield. Arturo Vidal is playing very well currently, Paul Pogba and Claudio Marchisio are class players and Andrea Pirlo is still one of the finest midfield players in the world.
"So the team is blessed with fantastic footballers but we knew that before the tie or before any preparation were made.
"But it would be dangerous to underestimate Celtic. We have proved already this season that we can be a match for anyone."