Lennon will discover his future after Sunday's final SPL game against Hearts at Tynecastle, where victory will extend his winning run in the SPL to eight games.
The Irishman is keen to be appointed on a permanent basis but asked what his feelings would be if Celtic's owner Dermot Desmond said no, Lennon replied: "I am prepared for that, I am comfortable with it.
"Everyone is saying it would be devastating. It won't. It's football and I have had highs and lows as a player.
"Very early in what you would deem my managerial career, I had a huge low (losing to Ross County) and came through that okay.
"So it won't be a devastating blow, but it will be a disappointment, yes.
"I haven't spoken to Dermot about it yet, I will probably speak to him after the game."
Lennon continued: "The way I look at it, you might not get that opportunity again so you have to take it and if I crash and burn, I crash and burn on my own merits.
"But again, I am pretty positive about things.
"I know there are pitfalls and I know there are other outside influences that can have a negative effect.
"So I'm well aware of the dangers, not to my health but my career but I would regret it for the rest of my life if I didn't take it.
"Football changes and who knows, four years down the line I might not want the job or have my eyes on something else, I don't know.
"I think you live in the present and if I get offered job, I will have to take it."
The former Celtic captain and reserve team coach insists he has proved to himself since taking over from Tony Mowbray in March that he is up to the task.
"I've learned that I can do it," he said.
"You just never know if you can deal with the challenges in front of you.
"I'm not smug about it, but I'm just pleased with the way I've been able to adapt to the situation and take on the challenges.
"I'm surprised that I haven't felt the pressure, maybe it's because the job is not mine permanently, I don't know.
"I haven't been losing sleep or been stressed, I've just sort of got on with it."
Lennon has been heartened by the endorsements he has received from his players in recent weeks but does not think that support will make much difference to Desmond's final decision.
He said: "Lifting and motivating the players and getting performances out of them, that's what has pleased me the most and I can't thank the players enough.
"Do boards take notice of what players say? I'm not so sure.
"I appreciate the players sentiments, I really do, but I don't think it will sway the board's mind one way or the other.
"But I'm pleased that the players want me to get the job."