Die Mannschaft were beaten finalists at Euro 2008, and were eliminated in the semi-finals at the 2006 and 2010 World Cups, despite being tipped by many to go all the way.
However, the 47-year-old, who was in charge of the ill-fated campaign six years ago, believes that the time has come for Joachim Low's side to put their near misses behind them and make their mark on world football by claiming the trophy in Sunday's Euro 2012 final.
"I hope that Germany can dominate the tournament and win the title," Klinsmann told AS. "We now have a generation with many different strengths, and all of them are very interesting.
"It is a team that can make an impression on the tournament. This Germany team deserves to win a trophy like the Euros.
"We [as a people] usually have the conviction and inner strength to rise to the challenge. In football it is the same. It's better to believe that we can overcome any rival, as Spain, the champions of everything, do."
Klinsmann made Low his assistant for the 2006 World Cup campaign, and went on to reveal that he maintains a close relationship with the 52-year-old.
"Low is a true friend rather than Germany coach or my assistant in 2006. We talk football for hours. It's a privilege to talk about games with him.
|7/4||Germany are 7/4 to win Euro 2012 with Paddy Power|
"I tell him that his team plays almost perfectly. Also that he is risking a lot with his style and approach, and that he should be rewarded with a title. We also talk about things that can be improved."
The former Bayern Munich boss was not surprised to see Roy Hodgson's England side exit the competition at the quarter-final stage, due to their poor preparation and injury problems.
"I had my doubts about the English before the Euros. They've had many injuries and the team had broken down. There was a new coach and little time to prepare.
"As it always is, they were unable to find the right path and move forward. They lacked a defined style."
Klinsmann is currently coaching the USA national team and, although he refused to rule out a return to Europe, he is very happy with his current job.
"In football, you can never say a categorical 'no', but now I'm in a very interesting project, and I won't be coming back soon."