The first leg of the quarter-finals take place this week with Bayern, whose Allianz Arena hosts May's showpiece final, in the opposite half of the draw to defending champions Barcelona.
Bayern face Marseille on Wednesday while Barca must overcome the challenge of AC Milan to reach the last four.
Real Madrid or APOEL Nicosia would then lie in wait for Bayern while Barca would have to see off either Benfica or Chelsea if Beckenbauer's ideal final were to come true, although the Kaiser believes it could happen.
"That is certainly what we all dream about, not just Bayern fans," he said. "Somehow I believe in this final, but there is still a long way to go.
"I am still dreaming about it. Real Madrid and Barcelona are currently the best sides in Europe and you have got to play against them at some point if you want to win the Champions League."
Bayern jetted off to Marseille today to face a club once coached by Beckenbauer.
The French side are currently struggling in Ligue 1 but Beckenbauer has warned against taking them lightly.
"There is no such thing as luck of the draw in the quarter-finals," he said on the German Football Association's website.
"Even the Cypriots from Nicosia, who people claim are weak, would not have been a lucky draw.
"It would be disrespectful to talk of an underdog. With the exceptions of Real and Barcelona, all six sides are on a similar level.
"Olympique Marseille are truly strong opponents and they showed that in both games against Dortmund and in the last round against Inter Milan.
"They are going to be two very tight games for Bayern."