The Portugal international says he would enjoy facing up to his former side in May, while is confident Los Blancos can progress past Manchester United in the last 16
The Portugal international spent three years at Estadio do Dragao before moving to the Spanish capital in 2007, and admitted if Los Blancos were not to win the competition this season, then, he would love to see his previous side triumph.
"I hope the final will be Porto-Real Madrid. I have great affection for my former team-mates," he told Antena 1.
"For me, it would be a dream come true. Following Real Madrid, I support Porto. If we do not win, then I want them to win.
"They are a team with not so many big names, but they have a great squad."
The Portuguese champions take on Malaga on Tuesday in the first leg of their last 16 encounter, while Jose Mourinho's side drew 1-1 with Manchester United in Santiago Bernabeu, but Pepe is confident his side can progress.
He added: "It is our main goal. We have to go back to Manchester and play well at Old Trafford, but we know we can do it."