Dutch champions Feyenoord make their return to the group stages of Europe's premier competition against City at De Kuip on Wednesday after a 15-year absence.
Pep Guardiola oversaw a spending spree in excess of £200 million during the summer transfer window, with City having taken 10 points from their opening four Premier League games this term.
Such form has not gone unnoticed by ex-Netherlands midfielder Van Bronckhorst, who believes they have every chance of winning the Champions League this term.
"Manchester City have had a good start to the season. They are a big club with a great coach and great players," he said.
"They are one of best teams in Europe. It's a big task and challenge for us to get a result here.
"They have players with lots of quality and experience and to me they are one of the teams that can win the Champions League."
The 42-year-old believes luck can play a big part in the latter stages of the competition, even for a coach he admires such as Guardiola.
"It's hard in the Champions League," he said. "I won in 2006 and [between] the big teams the difference is not big, it's small. Sometimes you have to get lucky.
"I think [Guardiola] is doing a great job. At this moment they have the ability to get results this year.
"He's a great manager. He's a big inspiration. He's won everything in football. He has his own vision."
Van Bronckhorst confirmed Feyenoord will be without striker Nicolai Jorgensen and defender Ridgeciano Haps due to hamstring injuries.