Les Bleus defeated Uruguay 2-0 on Friday after goals from Raphael Varane and Antoine Griezmann to book their place in the semi-finals against Belgium.
Tottenham Hotspur goalkeeper Lloris said that his team must perform better if they are to beat the Red Devils on Tuesday evening.
"I don't think so," the stopper is quoted as saying by the Daily Mail when asked if his side are favourites. "A nation like Brazil with all its talent and history has to be the favourites and if Belgium beat them then that fact will make them favourites.
"To win the semi-final we need to play at a better level than we did against Uruguay. We will be up against a great Belgium team with fantastic players.
"It will be a big, big fight and I hope we are ready for it."
France are looking to book a spot in the final of a second successive major tournament following their appearance against Portugal in the final of Euro 2016.