Wanyama has been linked with a move to the Premier League, but after returning to full fitness following an injury-hit 18 months, Kayal believes that he would be good enough to replace the Kenyan.
The 25-year-old told the Daily Record: "Victor's a great player, and a great friend to me, too. We play together in the midfield and he has proved himself in the Champions League that he's a great player at the highest level.
"If he goes, we'll be losing a great player and a great friend and I'll work hard to get into the team. I just want to come back and show everyone the real Beram Kayal.
"I'm 100% and can play all the games and give my best, but I don't decide whether the club buys players or doesn't buy players because that's the gaffer's job."
The Israel international has made 67 league appearances for Celtic since arriving at the club in 2010.