The Spanish side is the most successful team in the history of the competition, winning it nine times, but its quest for a 10th has been a story of near-misses.
Real has fallen at the semifinal stage in each of the previous three seasons, twice coming unstuck against German opposition.
Borussia Dortmund beat Real 4-3 on aggregate last year in the semifinals, while Bayern eliminated it on penalties in the last four of the 2011-12 campaign.
But it approaches Tuesday's semifinal second leg at the Allianz Arena with a 1-0 lead, following a strong performance in the opener in the Spanish capital.
Karim Benzema scored the only goal of the game, giving Carlo Ancelotti's side a precious advantage, but despite that, it will be wary of a Bayern side that has been imperious for much of the campaign under former Barcelona boss Pep Guardiola.
The Bundesliga champions are on course for five trophies in Guardiola's maiden season after winning the UEFA Super Cup and Club World Cup, while they will battle Borussia Dortmund in the final of the DFB Pokal.
Bayern has suffered just four home defeats since the start of last season, with Manchester City and Arsenal the only Champions League teams to taste success at the Allianz Arena in that period.
Yet Real coach Ancelotti insists it will go into the game with confidence as it aims to secure a treble in the Italian's first season in charge.
"I have every confidence in the players and I think everyone should do," Ancelotti said in quotes reported by the Spanish press. "The plan in Munich is to score, rather than defend."
Ancelotti revealed Saturday that Real's attacking trio of Benzema, Cristiano Ronaldo and Gareth Bale, the latter of whom missed Saturday's 4-0 win over Osasuna through illness, will all feature in Munich.
Alvaro Arbeloa, Jese Rodriguez and Sami Khedira (all knee) are Real's only absentees.
Defender Rafinha is available for Bayern after serving a domestic suspension this weekend but, while Thiago Alcantara has returned to training, Holger Badstuber (knee), Xherdan Shaqiri (thigh) and Tom Starke (elbow) remain sidelined.
Bayern has been touted as the favorite to retain the trophy throughout the tournament, and Guardiola is adamant the five-time champions can overturn the first-leg deficit.
"I have total faith in my team," Guardiola told the club's official website. "We can do it if we all pull together."
Bayern striker Mario Mandzukic, along with Madrid stars Sergio Ramos, Xabi Alonso and Asier Illarramendi, will be suspended from the final if they should pick up a booking in the second leg.
- Sports & Recreation
- Borussia Dortmund
- Carlo Ancelotti
- Pep Guardiola
- Karim Benzema