Barcelona wrapped up a disappointing UEFA Champions League campaign with a 4-2 victory away at whipping boys Viktoria Plzen on Tuesday.
The win cemented a third place spot on the table which will see them drop into the Europa League for the second season running.
Marcos Alonso scored his first goal for the club since joining from Chelsea in the summer while Ferran Torres notched a brace and Pablo Torre added another for Barcelona's only second group stage win this season.
This season's Europa League has some big European sides involved, with the likes of Manchester United, Ajax Amsterdam and AS Roma all alive in the competition. They could be joined by Juventus as well when the Champions League group stage concludes later on Wednesday.
Barcelona were knocked out of the Europa League by Eintracht Frankfurt at the quarterfinal stage last season and Xavi is wary of labeling his side as favourites this time as well.
"I would say that we are candidates to win the Europa League," he said, sidestepping a direct answer when asked if Barca were favourites.
"There is a very nice Europa League left to play for, and at Barca, we are a candidate who can fight for it and achieve success."
On another curtailed run at Europe's biggest prize, Xavi added: "The feedback is negative. This stage had its moments, and we didn't take our chances.
"Bayern Munich and Inter did. We couldn't win in Munich or Milan. This is the balance in the end."
