Martinez's men welcome the 2009 Bundesliga champions to Goodison Park on Thursday in Group H for what will be Everton's first taste of European competition since 2010.
Both sides finished fifth in their respective leagues last term - narrowly missing out on Champions League qualification - and Martinez feels the fixture will offer more than just a chance to get early points on the board.
The former Swansea City and Wigan Athletic boss is eager for his charges to learn from their meeting with Dieter Hecking's side.
"This is nothing new but we've been really excited. The Europa League is a great competition and probably where we need to be testing ourselves," the Spaniard said on Wednesday.
"The draw has been kind in the way of bringing two phenomenal teams [Lille and Wolfsburg] to Goodison and a surprising side in Krasnodar.
"It's a phenomenal challenge but that's what we want at Everton.
"The potential is huge but to fulfil that we have to play games like we will tomorrow.
"Deep down, that is what the squad needs to progress from last season."
Martinez could welcome back Champions League winner Samuel Eto'o to his squad as Everton look to kickstart their season after picking up just one win from four in the league.
Everton go into the game off the back of a win against West Brom and Martinez welcomes the increased congestion in the fixture list over the coming weeks.
"As a player, you want to play games. When you've got a full week you have to have really hard training sessions and as a player you don't look forward to coming into that," he continued.
"If you can avoid injuries, you welcome games. This squad is desperate to face that.
"We are facing phenomenal opposition but have competition for places.
"Playing in Europe is a completely different approach, I'm really excited about seeing this Wolfsburg side because after winning the Bundesliga in 2009 they have lots of European experience.
"It's going to be a different physicality and will be a different level to the Premier League. It's an experience we have to benefit from."
