The Tigers progressed to the semi-finals of the competition with a 3-0 home win against Sunderland in the last eight on Sunday.
Steve Bruce's side will take on League One outfit Sheffield United at Wembley for a place in the final, where they will face either Arsenal or Wigan Athletic.
If Hull reach the final and the Gunners defeat the Latics, then the Yorkshire club will get a chance to play in next season's Europa League.
Elmohamady, who joined Hull on a permanent contract from Sunderland last summer, is looking forward to bringing European football to the KC Stadium
"It's been great for me," the Hull Daily Mail quotes the 26-year-old as saying.
"First to come here on loan and get promoted out of the Championship and now we are going to Wembley. I hope it doesn't end there.
"We want to finish as high up the Premier League as possible and get to the final. To win the cup would be fantastic for the fans and for the club.
"We've got a very good chance of staying up and to be in the semi-finals as well is great.
"We play against Sheffield United and if we beat them we go to the final. Then we'll be thinking of Europe and that would be another massive thing.
"It's a massive step first against Sheffield United but even if we didn't win the FA Cup we could still be in Europe."