PSG enter the tie as slight favourites as they will be contesting their fourth consecutive quarter-final in the competition, while City will be making their last-eight debut in Europe's premier football competition.
But City look well equipped to disrupt the French champions, especially after midfielder Kevin De Bruyne returned from an injury layoff.
"I don't care if we're the favourites. At this level all teams have their chance," Blanc told a news conference on Tuesday.
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In the last three seasons, PSG were the underdogs against Barcelona twice, and Chelsea. This time around they will be more experienced than their rivals.
"Experience can play a part," Blanc admitted.
"All the teams were happy to have avoided Barcelona, Real Madrid or Bayern Munich. But we did not get an easy draw. I have warned the players. Those who say it was an easy draw were wrong."
Fullback Maxwell got the message.
"We respect them, we know they can beat us," he told a news conference.
"But we are confident, we know we have the qualities to qualify."
PSG last reached the semi-finals of the competition in 1995.
(Reporting by Julien Pretot,; Editing by Pritha Sarkar)
