Anderson is in the same side of the draw as Federer and they could meet in the quarter-finals.
The South African beat Federer in the Wimbledon quarter-finals after a marathon five-set tie which went 24 games into the decider.
The defeat sparked a downward spiral in form for the world No 3 as he won only one of the next four tournaments he entered - the Swiss Indoors.
Anderson has already looked at the Paris Masters draw in detail and is concerned about his latter stage opponents - which could also see clashes with Novak Djokovic and Rafael Nadal.
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“Anytime you’re playing Roger is a great experience,” Anderson said.
“Playing arguably the greatest player of all time is always a challenge.
“I had a big match against him at Wimbledon so taking to the court against him again, I’m sure he will be very motivated.
“But I would be very motivated to be up for that challenge again.
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“I have got many many matches to get there before playing Roger so it would be more me talking in general.
“But it is always a very special moment. He is an icon of the game.
“It is one of those interesting balances between a really great challenge to yourself and having to put aside all of the thought about how iconic he is.”
Meanwhile, Anderson qualified for the ATP Tour Finals last week by winning the Vienna Open.
“It has been a big plan of mine all year to make London, I have stated that several times,” he added.
“I have wrapped it up before Paris which is a good feeling.
“It feels good to have qualified myself, not just relying on other people’s results.”