The Blues were beaten 2-1 by the Ligue 1 side in Paris in the first leg of their last-16 clash at Parc des Princes on Tuesday night.
Chelsea have endured a disastrous season to date and are currently languishing in the bottom half of the Premier League table.
The west London side have shown signs of improvement since Guus Hiddink’s appointment as Jose Mourinho’s successor at the club until the end of the season back in December.
However, former defender Mills feels that the Blues are capable of triumphing in Europe’s elite club competition and could book their place in next season’s Champions League by winning it this term.
Writing in his blog for Sportlobster, Mills said: “I can totally envisage Chelsea winning the Champions League by the way.
“Don’t forget, the season they won the competition they experienced a very indifferent Premier League campaign finishing only sixth so I wouldn’t rule it out.
“The Guus Hiddink Chelsea is a different prospect to the team we saw in the early stages of this season.”
Chelsea take on Manchester City in the fifth round of the FA Cup on Sunday.
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