The former City and Arsenal midfielder helped the Gunners win Premier League crowns in 1998, 2002 and 2004 but the Londoners never managed to emulate Manchester United's modern dominance.
The Frenchman thinks City, after claiming their first title in 44 years, could have the capability to do that, and said: "We have a young team, really talented, with the determination to do well. Hopefully this team, for the next four or five years, will dominate the English game."
Vieira, 35, retired after playing a part in City's FA Cup success last year and is now the club's football development executive.
In a season when Paul Scholes came out of retirement for Manchester United at 36 and Thierry Henry briefly rejoined Arsenal at 34, Vieira might have yearned to play in City's history-making win over QPR on Sunday.
But he said: "It was time for me to retire, but it was a real pleasure (watching them).
"I have been with the players and I know them quite well. I know how much they wanted it.
"There was a lot of pressure on their shoulders.
"There were so many negative aspects around the team but the attitude was to win the game and win the title.
"I am really pleased and really proud of them."