Spain coach Luis Aragones believes his side have improved in recent years and are close to going all the way in a major tournament.
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The Spanish are regarded as one of the biggest underachievers in Europe at major tournaments, however Aragones believes a change in fortune is just around the corner.
"Until now teams like Italy, France, Brazil and Argentina have been better than us, but every day Spain are closing on them," Aragones said.
"I think we are closer (to winning a major title). Of course we have a chance to win Euro 2008 but to do that we have to know how to compete well.
"I now have the experience from the World Cup and also I think we are as good as the best and just need that little slice of luck."
Spain impressed in the group stage at the World Cup in Germany last year before an early exit to eventual finalists France, losing 3-1 in the second round.
They endured a shaky start to qualifying for Euro 2008 but came through strongly at the end winning their last four matches to take the top spot in Group F.
They have been drawn in Group D for the finals in Switzerland and Austria next year, along with holders Greece Sweden, and Russia.
Spain, whose only major honour is the 1964 European title, were shock first-round casualties under Inaki Saez at Euro 2004 in Portugal.