Due to their home advantage, Scolari's men are widely considered favourites to lift a sixth World Cup title at the Maracana Stadium next month.
However, the Brazil boss, who led his country to their most recent triumph in 2002, believes their South American rivals - who boast a wealth of attacking options, including Lionel Messi and Sergio Aguero - could go all the way.
"Argentina I believe are the most likely to reach the final," he said. "I don't have any worries about Argentina.
"I hope that, just by looking at the trip we have in front of us to the end, the final could be Brazil, and for the characteristics that I see in a team, by looking at various factors, it could be Argentina.
"I hope that we have a Brazil v Argentina final. A South American final with big players, with excellent technical qualities, but I don't want Argentina to be out in the group stage or in the knockout stages.
"I hope that Argentina plays football as it normally does and do whatever they have to do to win."
