The Frenchman is hoping that he can win both trophies this year but is refusing to prioritize either his club or his country.
Carlo Ancelotti's side is searching for its 10th European Cup, while Les Bleus are bidding to win this summer's tournament for the first time since 1998.
However, the former Olympique Lyonnais man believes both competitions are too important to pick a favorite and does not want to prioritize either his club or his country.
"I can't choose. They're both so important. They're both possible," Benzema is quoted as saying by Marca.
"Club and country are very different. You work with one every day, but not with the other one. The World Cup is the most beautiful thing that can happen to a player. You must be on top form when it arrives."
Having scored six goals in his last five games, Benzema is delighted with his recent form and credited Madrid boss Ancelotti for helping him to improve.
"I'm in good form and that shows on the field. Players go through good periods and tough ones," said the 26-year-old.
"Ancelotti has transformed my game, but for a striker it is good to have confidence when you go through a period without a goal, don't play well or are booed."