The 62-year-old believes the Azzurri will eager to make up for their Euro 2012 final defeat when the two sides lock horns in the Confederations Cup last four
The world champions put Italy to the sword in Kiev a year ago with a resounding 4-0 win in the European Championship final, and Del Bosque has warned his players to expect an attempted retaliation from Cesare Prandelli's men.
"For Italy, the semi-finals will serve as a revenge," the 62-year-old told Tele Cinco.
"They will be a very difficult opponent, they're one of the best teams in Europe and the World.
"It's going to be a rematch for them but we want to proceed [to the final]."
Spain will lock horns with Italy in Fortaleza on Thursday, 24 hours after hosts Brazil take on Uruguay in the first semi-final of the tournament.