McCaw said Lomu was a giant of the game and was probably bigger overseas than at home.
He was a great man and great All Black, McCaw said.
McCaw recalled watching Lomu at the 1995 World Cup and the impact that had on him.
Lomu's deeds were one of the main reasons money came into rugby at the dawn of the professional era.
McCaw also remembered his first game against Lomu where twice he tried to tackle him. He never got close.
"Had he been 100 per cent fit and not having to battle through (illness) I just wonder what he could have done and that's scary."
He said it was great to experience playing with Lomu.
"Fifteen years since he last played for the All Blacks he's still one of the biggest names, especially in Europe, in rugby.
"It's phenomenal really. I just feel privileged having got to play alongside the guy and know him."
McCaw posted a tribute to Lomu on Facebook yesterday, calling the late rugby legend an incredible player and a top bloke.