The Italian, who was disqualified from last year's Vuelta a Espana after getting a tow from his Astana team car, has failed to impress since winning the Tour of Oman in February.
Nibali, one of only six men who have won all three grand tours, prevailed on the Italian roads in 2013 and he believes his experience will help him to succeed despite his recent poor form.
"My advantage compared to other riders is that I have the experience," said Nibali, who will be taking part in his sixth Giro.
“I struggled a bit at the Giro del Trentino. My last race was Liège-Bastogne-Liège and I have recovered since. I’ve prepared for the Giro d’Italia as best I could."
Nibali picked a number of riders who could derail his plans for a second career Giro title.
"Looking back at the past two years, the most improved young rider has been Mikel Landa," he said.
"He’s one of my main rivals for this Giro, and there are also good young riders in Tom Dumoulin and Esteban Chaves.
"There will undoubtedly be surprises along the race route too, so concentration will be key.
"The first big day will be the time trial in Chianti, with very fast downhill sections and changes of rhythm uphill. The stage to Arezzo includes some sections of dirt road and will be very hard too.
"The Chianti time trial could favour me over Landa, who is a rider we know very well. Time trialling has always been a weakness for him, although he’s a great climber and he’ll be the man to beat in the mountains.
"He descends well, although he isn't a real specialist. However, we can’t focus on him alone when there are riders like (Alejandro) Valverde and Dumoulin in the race."