The west London outfit had a disappointing Premier League campaign but the ex-Germany captain is wary of the threat posed by Roberto Di Matteo's men in Europe's finale
The Blues only managed to finish sixth in this season's Premier League but the 42-year-old German points out that the Bavarians are not exactly going into the tournament decider at the Allianz Arena on a high after their 5-2 humbling at the hands of Borussia Dortmund in the DFB-Pokal final on Saturday.
"Chelsea are also wounded," Kahn told Bild. "They have not had a good season and they also lost a Champions League final in painful circumstances [on penalties in 2008].
"That really stings. It's similar to us in 1999.
"There is a danger of one thinking of Chelsea as an average team. But Bayern will not be so stupid to take Chelsea lightly."
From Kahn's perspective, the key to the outcome of the game will be whether Jupp Heynckes' men can manage to put their devastating defeat by Dortmund out of their minds.
"They need to press the delete button and completely focus on what they can achieve now - and that's winning the Champions League, which ranks above all else," the former shot-stopper stated.
"Some players never win this title, so they have to forget about the cup final.
"They can do an analysis of what happened at the end of the season and talk about it then."
The eagerly-awaited Champions League final between Bayern and Chelsea kicks off in Munich at 20.45CETon Saturday.