By ESPNSTAR.com staff
The Royal Blues finished third in the league last term and made it to the quarter-finals of the Europa League to cap off a memorable year under returning coach Huub Stevens, who took over from Ralf Rangnick last summer.
And Farfan, who spent much of the last campaign being linked with a move away from the Veltins-Arena, sees no reason why they will not be able to go one better this year and wrest the title away from arch-rivals Borussia Dortmund.
"I want to play for first place all the time over the next four years," Farfan told Bild after putting pen to paper to a new four-year deal.
"We have a very good team - one that could even win the championship this season. At the very least, we should return to the Champions League."
The summer departure of Raul to Qatari side Al Sadd has left a gaping hole to fill up front, and while Farfan believes he works best as a winger, he is ready to play further up the field if required by his coach.
"No single player can replace Raul," the Peru international added. "But we can make it up as a team.
"The exact role is in Huub Stevens' hands. The right wing is perfect for me, but if the coach wants me to, I can play as a second striker.
"I am determined here - I want to score ten goals. I must be selfish."
Farfan has been at Schalke since 2008 after joining from Eredivisie side PSV Eindhoven and has made nearly 150 appearances in all competition for the Royal Blues.