Hamilton's triumph in the Eifel Grand Prix last weekend meant he matched Schumacher's record 91 wins in F1.
Immediately after the race, and on live television, Schumacher's son Mick presented Hamilton with a helmet that the seven-time world champion had used in his final season in 2012.
Ricciardo, who finished on the podium at the Nurburgring, was full of praise for what Hamilton achieved and equally impressed with what he got given.
"His career now has been well over a decade in the sport and to keep coming back and to show that level of consistency at the front, that's not easy," said Ricciardo about Hamilton. "I think us up here [on the podium], I think we understand that.
"You can have a package and a car to do it, but it's doing it every weekend when the lights go out. It's easier said than done. Certainly big respect. I think also the gift that he received: one of Michael's helmets, that's one of the coolest gifts I've ever seen in the sport."
Hamilton was full of emotions after being presented with the helmet, and said it will sit in his lounge alongside another Schumacher helmet he got in a swap with the German at his final race.
"One of the really, really special moments for me was in Abu Dhabi 2012," remembered Hamilton.
"I went over to the Mercedes hospitality and met with Michael and we exchanged helmets. That for me was a moment that I will never forget, to stand with someone who I grow up watching on TV.
"Having the honour of exchanging jerseys or helmets, it's what us sportsmen do and it's the highest sign of respect that I can think you can really show. So to have the legend of the sport do that with me was really special.
"But to have his family honour me, I'm just incredibly humbled. You know his son is such a great bright talent and just a really genuine human being so Michael's obviously raised a great man in him and I look forward to seeing how his career will look moving forwards. But now I have two special helmets from Michael in my small living room."