The Selecao were drawn against Croatia, Mexico and Cameroon in Group A, with Pele believing that the hosts are the team to beat and will add to their five tournament victories.
"I think we will be in the final," he told reporters.
"I can always remember my father crying after we lost the World Cup to Uruguay in 1950, so I don't want my kids to see me crying! I hope we will win!"
Pele is the leading scorer of the Brazil national team with 77 goals in his 92 appearances.