Despite everything seemingly being stacked against the Gunners at the Allianz Arena, where England midfielder Jack Wilshere misses out with an ankle injury, Wenger insists the tie is not a lost cause.
"Football is football - everything is possible," said Wenger, who elected to leave first-choice goalkeeper Wojciech Szczesny back in London. "It is a difficult task, we know that, but we think it is not impossible. The only way to make it possible is to have a real go and play at our best. I am confident we will be completely focused and up for it."
The runaway Bundesliga leaders look all set to take their place in the quarter-finals having delivered a European masterclass in a comprehensive victory in the first leg of the last-16 tie in north London three weeks ago.
Bayern's home defensive record is formidable and they have not conceded three since losing to Inter Milan two years ago, while this season they have let in only 10 goals in 25 Bundesliga matches.
Wenger feels now is the perfect moment for his team to pay back his belief and deliver what would go down as one of the greatest of European comebacks.
"I am convinced that if this team can find a big game, with a big win, you will see a completely different animal. This season we have fought to find that in the big games and we have another opportunity and I hope the team takes this chance," he said.
"I have a great respect for this team and its attitude and they have not been rewarded yet. It is important for the end to our season that we do it here."
Wilshere's ankle problem will also rule him out of England's World Cup qualifying double-header against San Marino and Montenegro.
Wenger said: "It is a big blow for us, of course, but he was out for 17 months and we had to deal with it, so three weeks compared to that is something that we can deal with."
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