Buffon was sent off late in Juve’s Champions League quarter-final exit at the hands of Madrid after angrily confronting referee Michael Oliver over a spot-kick awarded to the La Liga giants.
The 40-year-old slammed Oliver in an emotional outburst post-match, leading to criticism of the shot-stopper.
But Lippi said Buffon’s reputation remained intact, while insisting Oliver got the decision wrong.
“There is nothing that can tarnish Gianluigi Buffon’s splendid career at all, either as a player or a man,” he told Omnisport .
“Nobody could expect such a game. The same goes for Roma [against Barcelona], to be honest. But Juve and Roma were exceptional.
“For Juventus, there was only an incorrect decision by the referee, who is very good, but in my opinion made a mistake in that case, and destroyed a fantastic Juventus performance.”
While Juve bowed out after the late drama, Roma reached the semi-finals following an incredible comeback against Barcelona.
Juventus are still on pace to win Serie A, with the side holding a six-point lead on second-placed Napoli.