The Portuguese believes Manchester City manager Guardiola has helped change the game.
Wolves go to the Etihad Stadium on Monday with City having scored 16 goals in their last two games, in cup clashes with Rotherham and Burton.
Guardiola won his seventh title in a third different country as a manager with City last year and Nuno feels the former Spain midfielder is one of the best.
He said: “Yes, no doubt, but how far back do you go? Rinus Michels? (Arrigo) Sacchi? There are a lot.
“When someone brings something new to the game – because everybody knows the game – I think we as managers must develop our ideas to help and develop the game.
“Pep is in that small circle of persons. He’s changed his game. By doing that, he was able to change some mentalities of others, whether it be Tiki-taka or whatever.”
Both managers have complimented each other this season having drawn 1-1 in August at Molineux.
Wolves are ninth in the Premier League ahead of this weekend’s fixtures with City four points behind leaders Liverpool.
And Nuno has nothing but admiration for Guardiola, who won three titles in charge of Barcelona and three in Germany with Bayern Munich.
“He is fantastic He has achieved so many things. His idea of the game is amazing, we all admire that,” said Nuno, whose side knocked Liverpool out of the FA Cup on Monday.
“Each manager has his own idea, but (there are) no doubts about it, that we respect each other very much.
“If we can look and see good things that we can use to our advantage, we’ll do so.”