The Hoops' run in the competition came to an end at the hands of Juventus this week after reaching the last 16.
Neil Lennon's men failed to overcome the odds when they suffered a 2-0 defeat in Turin on Wednesday, following a 3-0 loss in Glasgow in the first leg.
Strachan - the last Celtic boss to reach the knockout stages - says Lennon and his players deserve praise for the "bravery" they demonstrated against the Italian giants.
He said: "It was a very strange 5-0 because that is not a reflection of what happened.
"What I saw was a manager being brave and actually spooking Juventus for a good hour at least at Celtic Park and making Juventus play the way they did not want to play.
"If you look at the attempts at goal and possession over the two games, I don't know the stats, but I think Celtic would probably come out on top.
"As Neil said, with the budget he's got, you might miss a couple of chances, you might make a couple of mistakes, whereas with the budget the other team's got, their mistakes are less.
"We can all take a lesson in bravery from what we've seen.
"It was an unfortunate result over the two legs but they were performances that Celtic and Scottish football can be very proud of."