The Bayern Munich legend believes that the Mannschaft will dispose of Italy while La Roja will take care of Portugal in the last four
Beckenbauer, who captained Germany to World Cup success in 1974, before leading Die Mannschaft to the title as coach in 1990, is backing Joachim Low's side to be presented with a challenge in the semi-finals by Italy, but one which he believes they will overcome.
"You could see that the Italians are back and that they totally deserve to be in the semi-final," he told reporters.
"If they play like they did yesterday, it will be a difficult task for the German team, but one which is solvable."
The 66-year-old admits that whilst he has been impressed by Paulo Bento's Portugal, he can't look past the reigning European and world champions.
"The Portuguese team have made a good impression since the start of the tournament and it won't be easy for Spain," opined Beckenbauer.
"I think they'll have to improve to beat Portugal, but I think that if everything goes to plan, then the final will be Germany versus Spain."