The Catalans' title ambitions remain alive despite their draw at the Estadio Manuel Martínez Valero as Atleti also failed to bag the full three points against Malaga (1-1) and next week's encounter at Camp Nou will now decide the title race.
"We gave everything we had against Elche. They are a team that is fighting hard to avoid relegation," Mascherano told reporters.
"We now hope to win the Liga title at home against Atletico. It will all be decided next week.
"It could be the last game for Barcelona for some of us."
Barcelona currently trail Atletico by three points, but their better head-to-head record gives them the edge if they beat the Madrid side next week.