The former captain of the Spanish side believes that Carlo Ancelotti's men could be in for a shock if they do not play with "great character" against the Bianconeri in Turin
The legendary former Los Blancos forward, who is currently plying his trade in Qatar with Al Sadd, believes that the Bianconeri have more than enough talent to upset his former side.
"[Madrid] will have to play like they did in the last half hour at Camp Nou against Barcelona [on October 26]," Raul told Tuttosport.
"At that point, they showed great character and they made it difficult for our rivals in the league [before losing 2-1]."
Juventus knocked Madrid out at the quarter-final stage of the 1995-96 Champions League but the Spaniards got their revenge when they beat the Serie A outfit in the final two years later.
"They were our nemesis," Raul recalled of the rivalry between the two European giants. "We won the first leg of the 1995-96 quarter-final but lost in the return. We were sad but we managed to beat them [1-0] at the end of the 1997-98 season and lift the trophy."
The veteran believes that, although the Old Lady can no longer boast attacking players of the calibre of Pavel Nedved or Alessandro Del Piero, they could still cause a shock as they have "great players like Carlos Tevez".
The former Madrid captain, who made over 500 appearances for the club, concluded by stating his plans for the future.
"I'll stay in football," the 36-year-old declared. "I have two options: return to work at Real Madrid or stay here to help prepare for World Cup 2022."