The Greek champions meet the Gunners at the Emirates Stadium in the second group stage fixture on Tuesday night and Silva believes his players are primed to take it right up to Arsene Wenger's star-studded outfit.
"We are prepared to get the best result we can. We know it will be a difficult game, how big a team Arsenal are and respect them, but we believe in our own strengths and are ready for a strong game," said the Portuguese tactician.
"We are going to come here and show our best self, to show what we can do.
"We have analysed the jobs which Arsenal do well and will try not to make mistakes and match what we have done in training."
"If you asked people who would be the first two in the group, people would say it is Bayern and Arsenal, but football is not like this - there are no rules to say the favourites must win all of the games," added Silva.
"We did not manage to win against Bayern, and yes the Dinamo win over Arsenal has made it more difficult for us, but we have our own ambitions and there are no limits to them. You have to go for it and we hope that we can change the situation in the group."