Tottenham have won five times and lost twice in their past seven Premier League matches
Spurs are fifth in the Premier League and will go fourth - the last of the qualifying places - with a two-goal win at home against Newcastle on Sunday.
"It's right to underline that this target is very, very difficult and we aren't the only team that wants to try and do this miracle," Conte said.
"It's important to have this type of ambition - we have the possibility."
Tottenham played in the Champions League in four successive seasons from 2016-17 to 2019-20, losing 2-0 to Liverpool in the 2019 final.
But last season they were in the Europa League and for this campaign were in the third-tier Europa Conference League and, with Conte in charge, lost 2-1 to Slovenian side NS Mura in the group phase.
Covid-19 cases at Tottenham meant they could not play their last group match in December, with Rennes awarded an automatic 3-0 victory, a result that eliminated Conte's side from European competition.
The Italian, a Premier League winner when in charge of Chelsea and a Serie A champion with Inter Milan, replaced former boss Nuno Espirito Santo in November with Tottenham eighth in the Premier League, five points behind fourth-placed West Ham.
If Spurs beat Newcastle by two goals on Sunday then they will move above Arsenal into fourth, although the Gunners would have two games in hand.
"If you ask me about the past, about our possibility to reach the Champions League, I could say to do it would be very, very, very difficult," added Conte.
"Now after five months I'm seeing great improvement in my team and we have to fight until the end.
"To play Champions League next season is important for me, the club, the players, the fans, everybody.
"Champions League is totally different to Europa League or Europa Conference League or not playing in Uefa competition."
-- Courtesy of BBC Sport