The Manchester United striker - on loan from Monaco until the end of the season - netted his 24th goal for the national team in the 3-1 win over Kuwait on Monday, a strike which was credited as having drawn him level with Iguaran.
However, the former Millonarios striker insists he scored 25 times rather than 24, though he admits he would not begrudge Falcao the record in future.
"As far as I remember, I scored 25 goals for Colombia, but I will not cause a fuss over it," Iguaran told El Espectador de Bogota.
"The truth is that I have been my country's top goal scorer for a long time and this is very important for me and my family. It is an honour to have been Colombia's top goal scorer this long.
"My time with the national team was very rewarding because I always felt well.
"I hope Falcao will eventually break my record. He is very humble and always works hard. He deserves it. He is a true goalscorer and a football idol. That's why I want him to surpass me."
Iguaran earned 68 caps for Colombia between 1979 and 1993 and represented his country at the 1990 World Cup and two Copa America tournaments.
The attacker's much-debated 25th goal for Colombia came in a game for the Under-23 squad during a tournament for full international sides, which has caused a dispute over whether the strike should count as a senior goal.