La Roja have won back-to-back European championships and the most recent World Cup, but the Selecao coach is hoping that having home advantage will help his side triumph at the Maracana.
"I don't consider Spain the favorites," Scolari told reporters at a press conference ahead of the highly anticipated match. "In the last six years they have imposed themselves and won so many titles fielding virtually the same team and so that can maybe be an advantage.
"But we have something important in Brazil - which is that we have established credibility with our fans. We have been dreaming since the start of getting to the final and winning it."
Scolari also defended the current Brazilian style and insisted that playing against Vicente del Bosque's men will not affect his tactical decision-making.
"Some like it, others don't, but I am going to make the team play the same manner and make sure our opponents go up against a strong team," Scolari said. "We need to play in the way that we have been doing in this tournament and the [pre-tournament friendlies] against England and France.
"Spain have been playing beautiful stuff and winning [but Brazil] have been playing nicely in the past but not winning."
Ahead of the Confederations Cup, Brazil had plummeted to its lowest-ever position in the FIFA world rankings at 22, but four wins out of four en route to the final have seen them flouted as potential World Cup winners once again in 2014, a notion that Scolari hopes to boost with a win over Spain on Sunday.
"We will send a clear message that we are on the right path to go for the [World Cup] title in 2014 and be in the mix along several other teams," Scolari said.