Pirates defeated Egyptian giants Al-Ahly 5-3 on aggregate in the semi-finals, with Erasmus netting in the 4-3 second leg win in Suez on Sunday.
"Coming to the finals I wouldn't say we are not the underdogs, we have a fair chance," says Erasmus.
"I think with the character we have shown and stick to that, who knows what can happen.
"I can't tell the future but we will give a good effort to win it and give our best."
Meanwhile, Bucs coach Eric Tinkler has explained his reasons for benching Erasmus in the victory on the weekend.
"It was always our thoughts, particularly with regards to Kermit that at one stage we will introduce him once we felt they started to show signs of fatigue because he has good speed and the ability to get behind defence," says Tinkler.
"And it was obviously important that after they scored their second goal we needed to react and we did that with Kermit as he scored with his first touch.
"Thabo [Rakhale] provided the cross and it was his first touch, so it was a good entrance from both players."
Erasmus says he was paying close attention to the action before coming on in the 56th minute for fellow forward Lehlohonolo Majoro at Suez Army Stadium.
"I watched the game from the bench in the first half and just before Majoro came off he was on the blind side of Al-Ahly and his first touch let him down and he didn't manage to finish it," says Erasmus.
"That's what I read from the game and when I came on I thought I should do the same. When the cross came in I was on the blind side and with the players challenging for the ball, it fell for me and I had to show composure and pick the spot."