The 26-year-old was part of the last Bayern side to lift Europe’s biggest club prize in 2013, when they completed a treble after winning the Bundesliga and German Cup as well.
After losing to eventual winners Real Madrid and Barcelona in the semi-final stage of the last two competitions, Boateng believes Pep Guardiola’s side can recreate their success of two years ago.
“We have the potential to win the Champions League as well as the other competitions,” he told German broadcaster Sport1.
“Obviously we should and we want to win every match but there are other very good teams in England, France and Italy, and it’s always a close battle.”
Bayern kick off their Bundesliga campaign at home to Hamburg on Friday evening, as they look to win a fourth German title in succession.
Guardiola’s men have already been in action this season, losing to Wolfsburg on penalties in the German Super Cup after a 1-1 draw in normal time.
Arturo Vidal then netted his first goal for Bayern as they saw off FC Nottingen 3-1 on Sunday to progress to the second round of the German Cup.