Camacho's team face Porto in the first leg of their last 16 tie, and while he conceded that his side were underdogs the Spain Under-21 international said they could get a result at the Estadio do Dragao.
“The team are positive going into this game," he told reporters.
"We had a great group stage and with the humility that we have had so far we can impose ourselves on a difficult game.
“So far we have done a great job, but why stop here? We played great teams in the first phase and we qualified and Porto, I believe, are no better than Milan.
“They are favourites for their history, but what happens in the field remains to be seen.”
Malaga have been the surprise package of this season’s competition, despite being hampered by financial issues.
The club were recently handed a one-year ban from European club competition after failing to pay players' wages and tax bills on time.