The Round of 16 draw takes place in Switzerland on Thursday and former Borussia Monchengladbach star Vogts suggests the two Bundesliga giants will make life very difficult for the Hoops if they happen to draw either side.
"Bayern are the best team of all of the Germans. They have a lot of quality players throughout their side and are so strong," the ex-Germany and Scotland manager told Record Sport.
"It's not just the first-choice 10 or 15. It's around 20 and even the guys rated 24th and 25th could play anywhere in Europe.
"That is why they are top of the Bundesliga and I'd go as far as to say they are the top club in Europe.
"They could easily have won this tournament last season and probably should have done before losing to Chelsea on penalties in the final.
"But that experience will make them even stronger and more determined to get their hands on the trophy - so they are possibly the worst draw Celtic could get."
He added: "Borussia have a young team but the inexperience does not seem to pose them any problems and a lot of that is down to the manager.
"With Dortmund it's like they have taken some of Barca, mixed it with the German style and it works.
"That was an incredible performance and says more than any words of mine can."