The Anfield outfit made it all the way to the final last season only to be beaten 3-1 by Real Madrid in Kiev. Liverpool shone throughout and were the top-scorers of the tournament with 47 throughout the competition.
They dispatched Roma and Manchester City on the way to the final but a couple of Loris Karius errors handed the trophy to Real Madrid for a third successive time.
But having made it all the way to the final last season, Mane believes Liverpool can repeat their feat this time around.
“It was a very big sign for us,” Mane said. “It was a bonus for us to learn and get those kinds of experiences.
“We have played [big games] already and we know how. Now we have to do the same work on the pitch and the experience we had in the past will help. “It’s very early to speak about it but it’s why we’re always here working: to do anything possible.
“We have the quality and everything to go throughout [the tournament], so why not? Why not?”
Liverpool find out their Champions League group stage opponents today with the draw at 6pm.
Jurgen Klopp’s side are in Pot 3 meaning they could meet the likes of Real Madrid, Barcelona or Bayern Munich in the first stage of the competition.
They could also face Roma, Porto or Borussia Dortmund who are among the eight teams in Pot 2.
Liverpool go into this year’s tournament with a stronger squad after the signings of Naby Keita, Fabinho, Alisson and Xherdan Shaqiri during the summer.
And former Red Danny Murphy believes Klopp’s acquisition of Keita is an outstanding bit of business.
“Keita will be the Premier League’s best signing this summer,” Murphy said.
“Liverpool will expect a lot from him and I’m expecting him to take them to the next level.
“He’s a very dynamic player, very powerful and very quick. It is an incredible transfer that could allow them to close the gap on City.”