Goals from Samuel Eto'o and Gary Cahill saw the Blues run out comfortable 2-0 winners - 3-1 on aggregate - over Galatasaray on Tuesday evening as Didier Drogba's return to Stamford Bridge proved an anti-climax.
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"I think there are teams better equipped to win [the Champions League]," Hazard told beIN Sports.
"We have a team with young players who do not have enough experience of high-intensity games. But we will do our best and we will go as far as possible."
Hazard did, though, admit he would be delighted to draw Ligue 1 champions Paris Saint-Germain and return to France for the first time since joining Chelsea from Lille in 2012.
He added: "It would be a pleasure to face PSG, even if they are really strong and we have nothing to be envious of."