The Bavarians' Bundesliga title chances are incredibly slim, after they lost 1-0 against league leaders Borussia Dortmund in midweek.
Heynckes, however, has refused to give up on the league title race, stating that there is still hope for his side.
"We have to be realistic but I've never ever thrown in the towel prematurely," Heynckes told Bayern Munich's official website.
"I'll convey the glimmer of hope I still have to the team," he said, adding "we still have other major targets."
"I told my team in no uncertain terms that I expect them to put it [the loss] behind them and return to the fight.
"It's the only thing we can do. We have enormous potential, so we have to dig deep and bring out everything we have left," Heynckes declared.
"We have to show character and fire up our engines again. My players can do it, because they're all top individuals. You have to learn how to cope with defeat, because it's part of the game."
With four league games left in the season, second-placed Bayern are six points adrift of the top spot and must rely on Dortmund to drop points.
"I have every confidence that our team will deliver a first-class run-in. What the players have achieved recently, quite independent from the game in Dortmund, was magnificent."