Scolari has already stated that the hosts will win the competition, which would represent their first World Cup success since 2002.
And the 65-year-old admits that anything short of claiming the title would have to be considered a failure, given the level of expectation on Brazil's shoulders.
"Winning or losing in 2014 will not erase the title I helped Brazil win in 2002," Scolari told The Guardian.
"The players know they will have to win the World Cup. We can't play a tournament in Brazil and think that second place will do."
Scolari was in charge of Brazil in 2002 with a squad that featured the likes of Ronaldo, Rivaldo and Ronaldinho.
He believes that the current crop of players, who have won their last five games, have what it takes to match the achievements of 11 years ago.
"They are less experienced (than the 2002 squad) but their technical ability and their physical prowess enthuse me," he added.
"We need to take a moment when drawing comparisons. The 2002 Selecao was more seasoned and had quality players but not even Ronaldo and Rivaldo could do things on their own.
"Of course, the 2014 team will be judged by their results but these boys have shown that, if they work hard, as they have been doing, we can beat anybody."
