'The General' has tipped the club to surge to domestic and European success this season, after witnessing the scintillating form exhibited by Jupp Heynckes' men so far this term
The 63-year-old expects Die Roten to make up for last season's disappointment by delivering silverware come the end of the season.
"I think Bayern belong to the big favorites to win the Chamions League, because they're stronger this season than last term," Hitzfeld told Welt.
"They will also conquer the Bundesliga this season. The strength in depth is excellent. Bayern can win 5-10% more games than they did last season.
"[Bastian] Schweinsteiger's intelligence of play is of the highest quality. He's the spirit of the team, and belongs with the best in the world."
Indeed, the Bavarian giants sit pretty at the top of the German championship after an impressive run of six consecutive wins, and are seven points clear of champions Dortmund.
"No one can do better than Heynckes right now. He'll continue training them next year, I'm sure."