Emery has already won the competition three times with former club Sevilla.
Arsenal were knocked out in the semi-finals of the Europa League last season under Arsene Wenger.
"We can feel the possibility of winning this title," said Emery.
Pierre-Emerick Aubameyang inspired a Gunners comeback as they overturned a two-goal deficit from the first leg to reach the quarter-finals.
The striker put the Gunners ahead within four minutes, firing in Aaron Ramsey's cut-back, before setting up Ainsley Maitland-Niles at Emirates Stadium.
I still remember when @Aubameyang7 donned a Spider-Man mask after scoring for #ASSE in Ligue 1 and then a Batman mask at #BVB. Today, it’s a Black Panther one. Aubameyang recently: “There are others [for fans to see], for sure. Don’t worry about that!” What’s next?! 🤔 #AFC— Vaishali Bhardwaj (@VaiBhardwaj) March 14, 2019
Both English clubs are favourites to win the competition after five-time champions Sevilla's shock exit in the last 16 and Italian giants Inter Milan failed to progress.
Emery sees success in the Europa League as an extra ticket into the Champions League as Arsenal - who are currently fourth in the Premier League - battle to remain above Manchester United and Chelsea in the table.
"The last eight teams are very important teams and it is going to be very difficult," said Emery. "The Europa League is giving us a big opportunity also to make one way to the Champions League.
"And also, it's one title. I said to the players, I am excited about this competition. It's not just because you can get to the Champions League."
The draw for the quarter-finals takes place on Friday
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