With Atletico overcoming Bayern Munich and Real Madrid beating Manchester City in their respective semi-finals, the two Madrid giants will once again clash in the conclusion of the European Cup on May 28 in Milan.
Atletico lost in extra time when the pair met in the 2014 final, but Simeone has claimed that his team will not be out for "revenge" and will instead look to take advantage of "a new opportunity".
"It's not revenge, it's a new opportunity. Last time we didn't rest but this time we have 14 days to prepare before the final and to arrive in the best possible way," Simeone told AS.
"It's 50-50. We know a lot about them. What we're doing will go down in history because we're showing the world what we can do. Barcelona, Madrid, Bayern Munich, they're better but beware, because we're there."
Atletico and Real Madrid are also still battling Barcelona for the La Liga title this season.