Speaking ahead of their Champions League group game, Nagelsmann said even though Barcelona doesn't have the extravagance Lionel Messi gives, they are still a very strong team and his team will be prepared for everything when they play each other.
"They've no longer got someone as extravagant as Messi, but they have other players who can make a difference,' Nagelsmann said in the pre-match press conference.
"We are prepared for everything. I'm not of the opinion that they are a lot worse off now. Favourites or not favourites is always more of a media topic. Two world clubs are meeting.
"On the one hand, the form on the day will decide, but on the other hand, [there is] motivation - and that one will be extremely high with us."
The last time the two clubs met Bayern Munich won 8-2 in Lisbon, Portugal but a lot has changed at the two clubs since then, both have changed managers and Barcelona have lost two big players in Lionel Messi and Antoine Griezmann.