Barca secured three La Liga titles, two Copa del Rey medals and twice won the UEFA Champions League under the stewardship of former coach Pep Guardiola,
Tito Vilanova carried on that tradition by retaining the league title last season, before resigning from his post for health reasons.
However, Bayern Munich have emerged as the dominant force in European football and inflicted an embarrassing 7-0 aggregate defeat on Barca in last season's Champions League semi-finals.
And midfielder Xavi believes Barca are well capable of maintaining their place among Europe's elite.
Speaking to The Daily Mail, he said: "No, absolutely no (we are not in decline). I don't think so.
"Barcelona can carry on winning trophies. We won't suddenly be down. This is a spectacular crop of players. Look at the ages of the players: (Cesc) Fabregas, (Lionel) Messi, (Andres) Iniesta, (Dani) Alves, now Neymar, Jordi Alba and (Gerard) Pique - they are all around 26, 27, 28 29 years old. That's a great generation of footballers."
He added: "There is no question we were not at our best. We arrived at that point of the season tired. The big difference was that Bayern had a massive physical advantage on us and the result was huge.
"We always have to play so much better to win these big games."
"I'd love to (manage the club), yes," he continued. "I'd like to remain in football forever. It would always have to be with Barcelona. That's where my heart and feelings are.
"But that (management) is for the future. Right now, I love to play football. When you're a kid playing, you enjoy having the ball, don't you? All I ever want to do is have the ball at my feet, bossing the game."
