Barcelona's famed La Masia academy has been the envy of clubs worldwide for constantly producing youngsters that goes on to become world-class footballers.
However, Hoeness is adamant that Bayern can give the current European champions a run for their money with their own players.
He said in an interview with DPA: "People only talk about Barcelona and their young talent. But we are not so bad. Look at our current team: [Bastian] Schweinsteiger, [Philipp] Lahm, [Thomas] Muller, [Holger] Badstuber, [Toni] Kroos and [David] Alaba,"
"Kroos has made sensational personal development. If you want to catch Barca, you need such a player."
Hoeness also believes that this year's Champions League final being held at the Allianz Arena means that there will be a shift in the club's priorities.
"Normally I always say the German championship is the most important target because it is the most predictable. Now I have to say: if you have the Champions League final in Munich, which only happens once in a professional career, then you must aim for it as your target," he admitted.
"We are successful. We are success-oriented. And yet we have no debt. For a long time it was frowned upon to have no debt.
"The time will come when you want to buy something and will have to enter not the credit department of the bank, but the hard money department. And that would be the time of FC Bayern and Uli Hoeness."
Bayern Munich will resume their Bundeslig campaign on 20 January with a visit to Borussia Monchengladbach.