Sagan won his third stage of the 2016 Tour on the 16th day which finished in Cancellara's home town of Bern, Switzerland.
There had been a lot of build up to the stage for Cancellara, who was looking to take a fairytale stage win in his home town during the final Tour de France of his career.
Green jersey Sagan able to take a photo finish ahead of Alexander Kristoff (Katusha) as Cancellara took fifth place.
Sagan was keen to pay tribute to the man who's many career achievements he'll look to emulate, having beaten him back on stage one in the 2012 Tour from a breakaway to take his maiden stage win.
"Fabian is a big name in cycling he is a legend in cycling," said Sagan. For sure when I won first stage in Tour de France and I was young and I wanted to win.
"He’d won the prologue and had yellow jersey and at that time I was a young rider in the peloton and then we went in the breakaway together and I was like ‘I want to beat you because I want to win stage in Tour de France’. Maybe he was angry at the time with me because I was young, but now I am the [same] level of a rider."
The world champion also said that today could have panned out differently for Cancellara on the 209km stage if he'd been able to attack on the final climb, however the pace was so high that much of the peloton split and no-one was able to make a move.
"For sure today would be very different if we can come to finish in the breakaway with Fabian," Sagan added.
"I think he wanted to make something good [happen] when he’s coming home. But with the sprint in the final I think it’s very difficult for anyone to be in the front and fighting for position and everything like that.
"You can tell for sure that he wanted to try, but I can not tell if it was a finish for him.
"For sure he was working very hard in the stage before for the team. In Mont Ventoux, Trek made the crosswind and they were pulling all day and then the time trial…day by day its tiring. I’m very happy for today but I’m also tired."
Thank you for reading 10 articles this month* Join now for unlimited access
Enjoy your first month for just £1 / $1 / €1
*Read 5 free articles per month without a subscription
Join now for unlimited access
Try first month for just £1 / $1 / €1