Atletic have been drawn against the holders, with the winner of the tie set to meet either Alaves or Celta Vigo in the final.
Simeone said he was not surprised to be playing Barcelona at this stage of the competition and called on his players to show they deserved to go all the way.
“I value it as a semi-final and it’s normal to face these against major teams, we’re used to that,” he told a news conference on Friday.
“To reach the best, you have to be champion and you have to go through them [Barca]. They’re the best in the world.
“We’ve had five years here and I don’t understand any way to be champion other than to face them. They’re usually in the semi-finals of the Copa, of the Champions League…
“It’s the normal road for the Copa.”