By FOX Sports staff
But with his side Bayern Munich back in the final once more this year - on Saturday against Bundesliga rivals Borussia Dortmund at Wembley - the 28-year-old is determined to draw on that painful memory to ensure he does not experience it all over again.
"The defeat by Chelsea motivates me very much," he said, according to The Sun.
"Personally, losing the final has motivated me more so we can do it this season. I think you can see that with a lot of other players too."
12 months ago, the Bavarian outfit dominated large portions of the Munich final and scored what they thought was an 83rd-minute winner through Thomas Muller but Didier Drogba equalised five minutes later, allowing the Blues to go on and win the European Cup in the dreaded penalty shoot-out.
Bayern were also beaten finalists in 2010 when they fell to a 2-0 defeat to Inter Milan but given their all-conquering displays this season, including a 7-0 aggregate win over Barcelona in the semi-finals, many expected them to finally go all the way this year.
And Schweinsteiger admits, based on their form so far this term, they have every right to be confident they will be winners come Saturday.
"If you compare it to the other two finals, all [our] players are available and can play," he added.
"We have a better squad than last season and you can see that. We never had a season like this in the Bundesliga. The way we played in all three competitions [including the DFB-Pokal] so far proves it."
Nonetheless, the dynamic midfielder concedes it will probably not be an easy outing against a Dortmund side who know them extremely well, and have enjoyed some measure of success against them under coach Jurgen Klopp.
"We know we are seen as the favourites," Schweinsteiger explained. "But Dortmund in the last two years have won the championship and cup and they are a very good team.
"Otherwise, they wouldn't be in the final.
"It will be a tight match and a lot can happen in one game. But we're focused and will be in tip-top shape when the final kicks off."
Schweinsteiger has been at Bayern all his career and will be looking to add the Champions League to his six Bundesliga and five DFB-Pokal titles.