Spurs are vying for Champions League qualification with Manchester United, Liverpool and Everton, and have also qualified for the knockout stages of the Europa League.
"It was a big disappointment to go out to Basle last year and, hopefully, we can go a bit further this season," he told the London Evening Standard.
"The squad are even stronger now than this time last year and the new players are starting to settle in. By the end of February, we'll have a better idea of who will be at the top and who will be competing for fourth place.
"We need to make sure we go on another run and hopefully that will ensure we're in the top four at the end of the season."
Sigurdsson has made 25 appearances for Spurs in all competitions this term, scoring four goals in the process.