The Poland international scored eight goals and registered one assist in nine appearances in the 2016/17 edition of the competition, before Bayern were eliminated by holders and eventual winners Real Madrid at the quarter-final stage.
Lewandowski, who also helped himself to 30 Bundesliga goals in the recently ended campaign, is the only Bundesliga representative in the 18-man ensemble.
Watch: All 30 of Robert Lewandowski's 2016/17 Bundesliga goals
UEFA Champions League technical observers' Squad of the Season in full:
Goalkeepers: Gianluigi Buffon (Juventus), Jan Oblak (Atletico Madrid)
Defenders: Leonardo Bonucci (Juventus), Dani Carvajal (Real Madrid), Diego Godin (Atletico), Marcelo (Real), Sergio Ramos (Real)
Midfielders: Tiemoue Bakayoko (Monaco), Casemiro (Real), Isco (Real), Toni Kroos (Real), Luka Modric (Real), Miralem Pjanic (Juventus)
Forwards: Antoine Griezmann (Atletico), ROBERT LEWANDOWSKI (Bayern), Kylian Mbappe (Monaco), Lionel Messi (Barcelona), Cristiano Ronaldo (Real)