The CONCACAF winners qualified for the last four of the Japanese showpiece with an impressive 3-1 defeat of Asian champions Ulsan Hyundai in Toyota on Sunday, despite being without injured striker Humberto Suazo.
"Chelsea are a big team but if we are able to play like we did today then I am sure we will have a chance," Vucetich, 57, said. "We need to believe in ourselves and go for a victory."
A bright start from the Mexicans was rewarded after just nine minutes when 19-year-old Jesus Corona opened the scoring but they had to wait until late on to make the game safe with a brace from Cesar Delgado.
Lee Keun-Ho scored a late consolation for the South Korean outfit but Monterrey progressed to the last four after missing out on the semi-finals last year.
Chelsea, appearing in the Club World Cup for the first time, are currently third in the English Premier League, and come into the tournament after a win at Sunderland on Saturday that ended a poor run of results.
"We know Chelsea very well and we know the level of football (they play)," said Vucetich.
"However, we have a very strong bond amongst our players and many of them have played at international level with the Mexican team.
"We have confidence that we will be able to demonstrate great football. We have very good teamwork and the individual skills are also at world level. We will be playing to win."
In the other semi-final, on Wednesday, Egyptian side Al Ahly will play South American champions Corinthians, with the final taking place in Yokohama next Sunday.
Source: AFP
Source: AFP