The Bundesliga leaders visit the Volkswagen Arena on Saturday looking to extend their unbeaten league run to 49 games against a side who Guardiola believes are one of the best in the division.
Defending champions Bayern are 20 points clear at the top of the table, while Wolfsburg sit in fifth place but still within touching distance of Borussia Dortmund in second.
Dieter Hecking has already masterminded victories over Dortmund, Schalke and Bayer Leverkusen this season and Guardiola knows that his side must stay focused to avoid becoming Wolfsburg's latest high-flying victims.
"Wolfsburg are one of the big teams in the league," Guardioloa, whose side won the reverse fixture 1-0, said. "They are a dangerous opponent, despite their 6-2 defeat last week.
"They have some very good players. It won't be easy.
"It will be a big challenge, and we can take another step towards defending the title."
Bayern have won the last six meetings between the two and last tasted defeat versus Wolfsburg in 2009, when they were beaten 5-1.
