La Roja are the reigning champions, while the tournament-hosting Selecao laid down an early marker by defeating Vicente Del Bosque's men in the final of this year's Confederations Cup on home soil.
Italy, meanwhile, finished as runners-up at Euro 2012, leading Senna, who was born in Brazil but who represented Spain at international level, to believe that the Azzurri are also one of the leading title contenders.
"And, as always, the favourites are Brazil, Italy and Spain; they will all participate and therefore, those three are the favourites.
"In the end, the favourites don't always win; there could be some surprise. But I think it will be between those three."
Senna helped his adopted nation Spain triumph at Euro 2008 and he feels that that was a seminal moment in the country's football history, given they have subsequently gone on to not only successfully defend that title, but also win a World Cup in between, in South Africa in 2010.
"I think that from the fans, the coaching staff and players, there was always the anxiety about winning a competition like the World Cup or the European Championships," the former Villarreal ace mused.
"We knew that in Spain there were always great players, there was always staff to get to major tournaments, and the expectation was quite positive.
"But, of course, once again Spain failed in 2006 to go far in the World Cup and people started to think the same as before: that Spain seems to come and not perform.
"But then the  European Championship came. There was a tactical change, another style of play for Spain, but also the other players and I knew that at some stage we would win a championship.
"We would get to win, and we all know it has happened that Spain has won all the major competitions in the world."
The 37-year-old Senna was capped 28 times by Spain between 2006 and 2010, scoring once in the process.