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Liverpool will face Atletico Madrid in the quarter-finals. The first match in the Spanish capital will take place on Tuesday evening.
Klopp, speaking to the English media, admitted that Atletico is not currently in the best form, but they are still a team to be respected.
"Their goal difference in La Liga is very interesting. They have scored only 25 goals, but conceded just 17, which is really not a lot.
"Recently they have had problems with injuries, especially in the attacking positions. However, Alvaro Morata was already on the bench at the weekend, I heard that Diego Costa has returned, and Joao Felix should also play.
"If there is a team that can play for the result, it's Atletico. Simeone, whom I greatly respect, tries almost everything.
"Our histories are quite similar. We have tried many times (to win the UCL), and we have not won, but still we have tried. I like that. He is an extremely competitive person. Our relationship is good, but I have no doubt that he will forget about it when the match starts," Klopp explained.