The Nerazzurri came fifth in the league last term, finishing 42 points behind champions Juventus.
However, they are unbeaten after the first four games of the current campaign and Ranocchia admits that anything less than winning the Scudetto will not be good enough.
"No, I wouldn't settle for third. I'll settle for winning every game from here on in. Then you guys do the maths," he told the club's official website.
"We have lots of quality players here and there's harmony within the group."
Inter have won 18 titles in their history, with their last league success coming in 2010.