The Italy international has insisted that his side still have plenty of time to make up for the lost ground from the opening months of the current season
The San Siro side have been struggling to find their best form in the opening months of the 2012-13 campaign and currently sit only ninth in the table, trailing third-placed Fiorentina by 10 points.
Nevertheless, El Shaarawy remains positive and believes the Rossoneri have plenty of time to get back in the race to seal a place in Europe's top competition.
"We all believe that we have the quality to qualify for the Champions League again. The season is still long and we have enough time to catch our rivals," the young attacker told Sky Sport Italia.
"The win against Juventus was very important. We put in a lot of effort and remained focused. It was arguably our best match so far this term.
"That's why Friday's game against Catania is crucial for our position in the league table and to get a sense of consistency. We cannot afford to slack off now."
The away game against Catania is scheduled to kick off at 20:45CET.