Magath surprisingly succeeded Rene Meulensteen at Craven Cottage earlier in the month.
The German has tasted success in his home country, winning the Bundesliga trophy with Wolfsburg in 2008/09 and doesn't expect his position to change regardless of where Fulham finish this season.
He said: "I am convinced we are able to challenge the best as I definitely have the ambition to establish myself as a Premier League manager.
"There is no doubt what my aim is. Still, I have signed a deal with Fulham and this deal is valid for the Championship."
Fulham entertain Chelsea in the Premier League on Saturday.