The Reds head into the May 26 showdown in Kiev as slight underdogs, as they come up against a Madrid side that has won the competition two years running and three times in the last four seasons.
Lovren is adamant that Liverpool have nothing to fear against the reigning European champions, however, even if Liverpool did give Roma a glimmer of hope in the semis with a couple of late goals in their 7-6 aggregate triumph.
"They are quite confident. But we don't care for that, we are focused on our job," he told reporters. "Why should we fear them? They should fear us. The best teams [in the competition] are us and Real Madrid. Let's see what will happen.
"It is unbelievable [that we have got there], something that every player dreams of doing; it is just an honour to play for Liverpool and lets do something in the final now. It is an honour to play with this team, they are fantastic these players, these fans.
"It was difficult in the last 10-15 minutes, our heads I would say were in the final already, that is why we conceded but let's enjoy now."
Liverpool won the most recent of their five European Cups in 2015 when famously beating AC Milan on penalties.