Carlo Ancelotti-led PSG were heartbreakingly dispatched by Barcelona on away goals in the quarter-finals of their last European campaign and will be keen to advance further this time round.
The Parisians have enjoyed an unbeaten start to their Ligue 1 title defence and are two points behind leaders Monaco and, after a 2-0 win at Bordeaux, Blanc is confident his side is ready for the occasion of continental football.
"If we can win and play like we did against Bordeaux we will be very happy," Blanc said on Monday.
"It also depends on our opponents and I know this stadium well after having come (to Olympiacos) as coach of Bordeaux and as a player with Manchester United.
"The atmosphere will be electric, but we know it, but we are ready.
"We will try and control the possession and be more dangerous than our opponents."
Blanc would not speculate on who will replace injured defender Alex but did praise Olympiacos for their style of play.
"They are a very dynamic side that love to attack and we have observed them and that's how they play in the Greek championship," the 47-year-old coach said.
"I don't know if it will be the same against us and they are also very strong from set pieces."
Goalkeeper Salvatore Sirigu was adamant the atmosphere will be intimidating but was confident their European experience last campaign will hold them in good stead.
"We had a good run last season and no match is ever easy, especially against sides that have a lot of experience in this special competition," Sirigu said.
"We have to be just as good as we were last year if we want to go as far."
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