The former Germany international is expecting “big transfers” to be completed by Premier League clubs this summer as they prepare to splash the cash once again.
With their ranks bolstered ahead of the 2017-18 campaign, Matthaus believes the leading lights in England will be able to force their way back into the reckoning for European football’s top prize.
The World Cup winner told The Sun: “This summer I expect English clubs to make big transfers — and they will get the results to match.
“Manchester United have already won the Europa League.
“So next season it’s five England clubs against four from Spain, for the first time. That is the first attack.
“I really think one or two English teams will make the last four.
“And I expect we will be saying something different about English sides this time next year.”
While expecting an influx of world-class talent to Premier League clubs on the field, Matthaus also feels that the quality of coaches in England will aid the quest of the respective sides taking aim at the grandest of trophies.
He added: “The competition has been dominated by Spanish sides over the past few years.
“But next season, with the quality English sides have on the bench and on the field, I feel it will be different.
“There is no doubt that English football now has some of the best coaches — maybe even the best.
“Just look at the names — Pep Guardiola, Jose Mourinho, Jurgen Klopp, Antonio Conte and Mauricio Pochettino.
“And that won’t include Arsene Wenger next season, which tells you how good the other five have been.
“I feel clubs in England have understood that even great coaches cannot arrive and alter everything in a day.
“Then factor in all the money, and number of good players, and you should get a winning mixture.”