When the 2019 F1 season gets underway on March 17, Hamilton will be aiming to win a sixth world title.
Hamilton and Mercedes have dominated the sport over the past five seasons but a challenge from Ferrari and Red Bull is expected this year.
Speaking in an interview with Sky Sports, Carey, who took over F1 two years ago, was asked if it was time for a change or if he was fed up of Mercedes’ dominance.
Carey replied: “You can’t help but admire Lewis and everything he has achieved.
“He’s one of the all-time greats and I think what he did last year was really special.
“You can’t help but admire unique talent and unique capabilities in a record-setting sense.
“On one level you always want the underdog to be able to win but on the flip side when I say the sport is about heroes, there are no bigger heroes than Lewis Hamilton.”
Meanwhile, Red Bull’s Max Verstappen says he is confident they have the platform to mount a genuine assault for the title, following the switch in engine suppliers from Renault to Honda.
He told Dutch publication, De Telegraaf: ”Honda wants to win and they are going to do everything. I like that attitude.
“Everyone is positive and enormously motivated. It looks good, but the other teams are not sitting still either.
“Look, I expect that the car itself is good at least. And then it is to be hoped that we have really made a step from the Honda side.
“I think we still have a shortage (on Mercedes and Ferrari).
“As a driver you are of course dependent on the material.
“I also have to learn from the lessons of the past years and then hope that the whole package will coincide this year.
“I can not keep saying that I am very young and have to continue to learn a lot. I have already had four years in Formula 1 behind me.
“Of course it can always be better and you continue to learn, but I have already gained so much experience.
“I am no longer a talent. It must be completely constant now.”