The Dutchman has called for realism after his side won plaudits following their emphatic 3-0 win over Italy and revealed Igor Akinfeev will be put on a special training programme
Second half goals from Aleksandr Kerzhakov and a brace from Roman Shirokov provided Russia with the perfect platform to head into the upcoming tournament, but Advocaat is still looking at ways his side can improve.
He told reporters: "Let's be realistic. On Monday I re-watched the Italy game and realised that we still have things to work on.
"The favourites for the tournament are Spain, Germany and Holland. I'd say that Russia are probably outsiders."
The 64-year-old also revealed Igor Akinfeev’s fitness is currently being closely monitored with Russia due to open their campaign against Czech Republic later in the week.
He added: "He has some liquid left in his knee and we need to eliminate any risk. Today he's going to work on a special programme with the physio. There's still time, so it's not worth risking him or others."