Herrera's side begin their World Cup campaign against Cameroon in Natal on Friday and will also face hosts Brazil and Croatia in the group stage.
Mexico have been knocked out in the round of 16 at the past five World Cups but Herrera wants his side to buck the trend and reach the last eight.
And to do that, the coach said his players must have belief.
"From the outset we have to visualise the idea that we can reach the final," Herrera is quoted as saying in The Guardian.
"The history of our football doesn't back up my words, but we have a good team and a great infrastructure in Mexico - we just lack the mentality to set ourselves those goals.
"It's not that I'm being a conformist, I'd like to be world champion, but you have to have the conviction of achieving an important goal and then advancing.
"If we get to that (fifth) game, it means we knocked out two important teams in the group stage, as well as a strong team that could be Spain, Holland, Chile... after that, you see who you get in the quarter-final."
