That place, it seems, will be contested between Chelsea, Manchester United and Arsenal, with the trio separated by just three points in the table.
However, given that the Gunners are bottom ranked in the three-team mini league, Emery believes they are the least likely to make the top four.
When asked whether he considered Arsenal to be outsiders to qualify for the Champions League, Emery responded: “Now, yes.
“Because we are sixth. It's practical but it is like that. I trust in our capacity to take but it is like that.
A 3-1 defeat in their last outing against Manchester City has not helped the Gunners' cause, and the north London club have struggled against the league’s top sides, with Arsenal also being humiliated 5-1 by Liverpool earlier in the season.
"The first is [to say] there are teams now better than us," Emery said, when asked about his record against the best sides in the division.
"They have an advantage to us. And we need to be calm and also very demanding of ourselves in our minds for work and to be consistent over 38 matches.
“Now Liverpool, Manchester City, Tottenham, also – they are doing a big difference between us, but Chelsea and Manchester United, very big teams, also with a difference [to the top three] but they are closer than us.
"We can think our way is hard, is strong, is difficult but with a possibility and the possibility is because we are three points only behind Chelsea and one point behind Manchester United and they are two very big teams.
"I think we need to continue thinking in our capacity to be in the top four. But knowing it's difficult.
“It's not to think we're playing under pressure, it's to be demanding and also [we have] ambition to be in the top four. Also knowing other teams, they have an advantage to us.”
Arsenal face Huddersfield on Saturday and know a win could see them go level on points with fourth-place Chelsea.