The West Indian southpaw, holidaying Down Under, was among the 90,000-odd spectators who rose to their feet when Warne castled Andrew Strauss to achieve the feat at the MCG.
''I've faced other bowlers and when you're feeling good you start to take command of your innings, but I never really felt I was in total control against Shane,'' Lara was quoted as saying by the Mirror.
''He seems to be working towards a plan and you feel he always has something up his sleeve.
''I've seen it countless times when he has produced a delivery that is out of this world and it gets people out. He remains a very special bowler who truly mastered the art of spin bowling,'' he said.
Lara said he was fortunate to have played against Warne, whom he described as the best spinner of his times.
''I feel lucky to have been able to play against him. To share the stage with Shane has been great and he is rightly revered as one of the best five cricketers of the century,'' he said.
''It is a great feeling to know I'll be able to talk to my grandkids and tell them I faced such a fantastic bowler. His name will be talked about in cricket forever so I feel privileged and honoured to have shared those games with him.''