The SPL champs made it to the Round of 16 of Europe's premier club competition this term before succumbing to Italian giants Juventus, however, Wanyama suggests they can go beyond that next campaign if they channel Juergen Klopp's side who meet Bundesliga rivals Bayern Munich in the May 25 Wembley final.
"I believe we can go beyond the last 16 in the Champions League," the Kenyan ace said.
"We were close to doing that this year. But we had a little bit of a problem playing as a team in the knockout stage for the first time.
"We've learned from our mistakes and next time I believe we can do better.
"People say a Scottish club can never win the Champions League but in football you never know.
"Look at a club like Borussia Dortmund. They have come from nowhere. If we work hard and stick together we can also be like Dortmund - a top club.
"It's a big challenge and I expect to be here to help in it. I'm still a Celtic player and I expect to be here next season because I still have a contract.
"It has been great winning trophies here and we'll see what will happen next season.
"I think I've improved a lot as a player. I've played a lot of games. We started in qualification for the Champions League, which wasn't easy at the start of the season."