They are scheduled to kick-off their opening group stage game against Iceland on Wednesday.
"We have everything we need to reach the final and win it. It will be tough. Of course we know it will be very difficult, because there are other teams with lots of quality and even more experience than Portugal, as they've played in lots of finals," Pepe was quoted as saying by uefa.com.
"But we're very ambitious and hungry like all the other teams ."
Portugal this time around have players in their squad who are coming into the tournament at the back of great domestic seasons and therefore Pepe also said they are high on confidence.
"We are high on confidence. A lot of our players have won trophies at club level. Myself and Ronaldo won the UEFA Champions League with Real Madrid and it's good to have this winning mentality in a squad," he said.
"We're 23 players who will each give our all to help Portugal win and we dream of lifting the UEFA Euro 2016 trophy."
"We have a mix of young and older players. I'm 33 but you never lose the ambition of wanting more, wanting to do more for Portuguese football," he said.
Coach Fernando Santos has had a key role in bringing the squad together. He has also brought in a few new faces which has helped boost an otherwise ageing team.
"We are confident and the team spirit is very good. I think all the players here have the ability to play, which is excellent.
"The coach picked young, ambitious players. We, the more experienced players, have the same will to win. We have a good healthy mix, with a lot of competitiveness within our squad, which can only help."