The Catalan giants have progressed to the tournament's quarter-finals after a 6-1 aggregate victory against Osasuna following Thursday's 2-1 win at the Reyno de Navarra in the second leg of their round of 16 tie.
Such a result means that Barca will tackle Madrid twice in the coming fortnight, and while his side have won two of their three matches against Los Blancos this season and drawn the other, Pique believes that neither club have the upper hand.
"In a match between Barca and Madrid there are no favourites, it does not matter how they have been faring," he is quoted by AS as saying.
"We will go to the Santiago Bernabeu to try to win and get the best possible result.
"This is what the draw decided, we are going to have to prepare very well, as we always do, and try to reach the semi-finals and win the tournament."
Quizzed on Thursday's victory against Osasuna, Pique said: "It is always very hard because they close down very well, they play hard and it is always difficult to beat them.
"We had a tough time in the first half, but after the break we were superior and it is always good to come here and win."
Barca will travel to the Santiago Bernabeu on January 18 at 22.00 CET, with the return leg taking place exactly one week later at the same time.
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