The capital outfit host Barcelona in the second leg of their quarter-final this evening, with the two sides currently level at 1-1 from the first leg last week.
However, Laudrup has picked out Atletico as the team to beat in this year's competition.
"All the teams in there have enough to win the competition, all of them," he told AS.
"Madrid have a great squad and are eager to win the title they crave. Bayern Munich are also there and Barcelona, but I think the other teams have chances too.
"Chelsea are one of them, but mostly Atletico. I really think they can win it. They're a tough team, very difficult to play against and they can win the Champions League. This may be the year."
Laudrup represented both Barcelona and Real Madrid during an illustrious playing career.