The Hoops boss celebrated clinching the club's second successive Clydesdale Bank Premier League on Sunday with his side's 4-1 win over Inverness.
And Strachan believes he is amongst the favourites to win the PFA Scotland prize for outstanding managerial candidate.
As well as the club's SPL triumph, Lennon also masterminded the run to the Champions League last 16 that included the famous 2-1 win over Barcelona and led the Parkhead club's march to the William Hill Scottish Cup final.
But Dark Blues boss Strachan says Lennon will also face competition from Motherwell's Stuart McCall, Terry Butcher of Inverness, Ross County manager Derek Adams and Queen of the South's Second Division-winning head coach Allan Johnston.
Strachan said: "There are good candidates. Obviously Lenny for his good work winning the championship and getting to the stages they got to in the Champions League.
"Then you have big Terry. He had limited resources and a bad start to the season but came back to do well and produce good players that people are interested in.
"Then you have Derek Adams, who has taken Ross County as high as they have ever been. And Stuart McCall obviously. I saw Motherwell against Dundee United the other night and it was a fantastic performance.
"There is also Allan Johnstone at Queen of the South and they have all got credentials that are good. We have never been short of good managers in Scotland."