The Spain manager believes the Azzurri will be eager to make up for their Euro 2012 final defeat when the two sides lock horns in the Confederations Cup final four.
The world champion put Italy to the sword in Kiev a year ago with a resounding 4-0 win in the European championship final, and Del Bosque has warned his players to expect an attempted retaliation from Cesare Prandelli's men.
"For Italy, the semifinals will serve as a revenge," Del Bosque told Tele Cinco. "They will be a very difficult opponent, they're one of the best teams in Europe and the world.
"It's going to be a rematch for them, but we want to proceed [to the final]."
Spain will lock horns with Italy in Fortaleza on Thursday, 24 hours after host Brazil takes on Uruguay in the first semifinal of the tournament.