Jorge Sampaoli's men finished second in Group B to set up a last 16 meeting with the tournament host and winner of Group A, having beaten Spain and Australia before losing their final group game to Netherlands.
PHOTOS: USA vs. Portugal | U.S. fan reactions | Beautiful people in Brazil
La Roja has shown to be a dangerous attacking team so far in the tournament and, even though it has been eliminated by Brazil every time it has advanced past the group stage of the World Cup, the Brazilian defender says his side has to be careful when the teams meet.
"I wanted us to get through and now I am happy," he told FIFA's official website. "Chile are a team who deserve to be there. They have a philosophy of playing good football. They have lots of pace and excellent players.
"History counts for nothing. We want to win. What is the biggest threat that they pose? The whole team."
Brazil faces Chile on Saturday June 28 for a chance to face either Uruguay or Colombia in the World Cup quarterfinals.