James Rodriguez, the tournament's top scorer with five goals, and company have taken their nation to the knockout stages of a finals for the first time, but Pekerman has acknowledged that progressing into the last four at the expense of the hosts would be a "high leap".
He does give them a good chance, though, of triumphing over the Selecao, claiming that it will be an even game because each side have "great players".
"To progress to the semi-finals is a high leap and this is a defining match because both teams will be at the peak of their performances," Pekerman told reporters.
"On both sides, we can observe great players, and when you have great players on both sides of the pitch, the match will be interesting and very even."
Colombia had never advanced past the group stage at their four previous World Cup appearances.