The Saudi outfit only just started their domestic league campaign on Saturday, where they beat Al Tawon 5-3.
But despite their lack of match fitness, Damjanovic believes Al Ittihad have few weaknesses.
"Maybe we can use that [a lack of fitness] as they might not be in the best form, but on the other hand, they will be fresher and we must be careful about that," Damjanovic told the Asian Football Confederation's official website.
"From what I saw on the DVD, they don't seem to have too many weaknesses."
While Damjanovic reveals he was not looking forward to playing a strong outfit like Al Ittihad, he admits it could hold Seoul in good stead ultimately.
"Initially I wasn't too happy when we were drawn to play Al Ittihad, but if we want to be champions then we will have to beat some big teams."
Furthermore, the Montenegrin striker sees no reason why his team cannot go all the way this year and claim the Champions League crown.
"We are in good form and I am confident this will be an awesome game to watch.
"Korean teams have won the ACL in the last two years and I believe that one of us will certainly be in the final.
"Generally, we have been satisfied with our performance in the ACL so far, but everyone here wants the title and we must give it our all to achieve this."
Seoul were crowned champions of Asia back in 2009, while Seongnam Ilhwa Chunma beat Iran's Zobahan to claim last season's title.
Apart from Seoul, Jeonbuk Hyundai Motors and Suwon Samsung Bluewings are the other teams looking to do the Korea Republic proud this campaign.