City have never won Europe's elite club competition and were knocked out by eventual champions Real Madrid in the semi-finals last season, having lost the final to Chelsea in 2021.
When asked about City's desire to win the Champions League, Ederson told UEFA's website, "that's our main objective, the main objective of the club. We've been trying (to win it) and will carry on trying," the Brazilian goalkeeper added.
"This year, we're more than capable of getting to the final and challenging for the title. We're a group of great quality and that shows how much the club has developed over the last five or six years, with Premier League titles, League Cups, FA Cups, Community Shields.
"This title is what the club needs, it's what we athletes need and it's what (manager Pep) Guardiola needs here at the club, too. This year, we're going to try. We're going after it."
City faced Leipzig in the group stage of the last edition of the Champions League, with Ederson saying the Premier League champions were well aware of the threats posed by their German opponents.
"They're a good team, with good players, so we have to be prepared. I hope we'll be able to play well, but it won't be easy because the Champions League doesn't have easy games," Ederson added.
