Hiddink takes Anzhi to Newcastle United on Thursday for the second leg of their last-16 tie having drawn 0-0 in Russia last week.
"It's difficult and unpredictable to say whether the teams can go all the way," Hiddink is quoted as saying by Sky Sports News.
"We like to go step by step and not think too much ahead, but if we could make the next step, it would give a lot of prestige.
"Newcastle, I know they have also, from what I have heard, the ambition to play in the final in Amsterdam, so it will be a nice clash tomorrow."
Hiddink has never won the Europa League during his 25-year managerial career.