The goalkeeper believes his side should accept they do not have the talent in the squad which they enjoyed during the days of Jose Mourinho and Roberto Mancini
The Giuseppe Meazza side had to settle for ninth spot in the Serie A table last term and Handanovic has admitted that times have changed for Inter since their momentous treble win in 2010.
"We should no longer think of ourselves as the superpower from before. We should not kid ourselves. This is simply the situation as it is," Handanovic told La Gazzetta dello Sport.
"Inter no longer have 11 or more top players like in the days of Roberto Mancini and Jose Mourinho."
The Slovenia international was heavily linked with a move to Barcelona earlier this summer, but he has stressed that a transfer was never a realistic option.
"If a club really want a player, they get their man and the player is the first to know," he continued.
"It was mainly paper talk and I don't care much about rumours. I want to focus on playing football. I am with Inter now and we will see what the future brings."
Handanovic has a contract with Inter until June 2016.