Bayern coach Jupp Heynckes has previously claimed the German international reminds him of the two Spanish midfield maestros.
While flattered, Schweinsteiger insists he brings something different as compared to both Iniesta and Xavi.
"They're both terrific players, no question about that. But I regard myself as a little bit different, especially in physical terms," Schweinsteiger was quoted as saying on the official Bayern website.
"I do win a few balls in the air, simply due to my physical stature. And I also come up with different solutions compared to them.
"But obviously, I know what Jupp is trying to say."
The 27-year-old is set to make a return against Borussia Monchengladbach on January 20 after missing the last two months of 2011 due to a shoulder injury.