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"I don't know if Bayern are ready to win the title," he told ZDF after the match.
"We have played Barcelona twice in recent years and believe me, they are the best team."
Reflecting on the match, Wenger expressed his pride at his side's performance in Germany, but rued their failure to produce a credible showing at home three weeks ago.
"The hope was always there. We scored the second goal too late, but we felt Bayern were nervous," he continued.
"We won, but we played badly in the first match and we paid for it. Qualification is over 180 minutes and we played badly for the first 90."
Arsenal will now turn their attentions to their Premier League trip to Swansea on Saturday.