Four wins out of a possible six have seen the Toffees move up to second in the Premier League table.
"The Champions League is a real, viable option for us. Very difficult, but it is viable," Howard told Sky Sports News.
"We talk about it, we achieved it a few years ago and we have the ability on form to do it, but it is a long way off to May."
The Merseysiders last qualified for the Champions League in 2005.