Munoz joined from Osasuna this summer following his breakout campaign in La Liga, and is currently on World Cup duty with Spain, who face Argentina in Sunday's final. Speaking to Liverpoolfc.com, Iraola detailed what he expects the 23-year-old to bring once he links up with his new team-mates.
"We will have someone who will win the World Cup!" the manager said. "We don't know still if it's going to be [Alexis] Mac Allister or Victor, but someone will win it.
"With Victor, I think we signed him in a moment where he's very hungry, he's ambitious, but he's still humble and knows that he has to come very ready.
"I think he's someone with some versatility - can play right, can play left, he has the work-rate also for all that we will require.
"Looking forward to having him here, even if we know that we will have to wait with him and Macca."
Munoz will not report for pre-season training until his involvement with Spain has concluded, giving Iraola an extended wait to work with his new arrival on the training ground.
Elsewhere at the AXA Training Centre, Oliver O'Connor has signed his first professional contract ahead of the 2026-27 season. The teenager has been on Liverpool's books since joining as a six-year-old and progressed through the academy ranks to become a regular for the under-18s last term.
A midfielder by trade, the Scouser showed his versatility for Simon Wiles' side by frequently filling in at right-back during the campaign, and also featured in the UEFA Youth League as Liverpool reached the knockout stages.
While Munoz arrives as the more eye-catching addition, O'Connor's new deal reflects Liverpool's continued investment in its academy pipeline, with both moves forming part of a busy summer of business at the club.