Jose Pekerman's side booked a last eight meeting with Brazil by beating Uruguay 2-0 on Saturday thanks to a brace from attacking midfielder James Rodriguez.
Brazil are considered by many to be the favourites to lift the trophy on home soil, although Luiz Felipe Scolari's men needed a penalty shoot-out to avoid elimination at the hands of Chile.
Martinez is relishing the challenge of taking on the five-time champions and is adamant that Colombia will not approach Friday's contest in Fortaleza with fear.
"It will be a privilege to play against Brazil," Martinez said.
"It'll be a major challenge for us. We'll keep working to go as far as possible in the World Cup.
"Brazil does not scare Colombia, but be careful with their stars.
"Now, we have our strengths and that's what allowed us to reach the quarter-finals."
