The French giants fell at the final hurdle in the 2019-20 season, Kingsley Coman's goal enough to hand Bayern Munich a 1-0 victory in August.
The draw for this season's group stage took place on Thursday, with Thomas Tuchel's men drawn against Herrera's former side Manchester United, RB Leipzig and Istanbul Basaksehir.
Herrera described the group as "spicy" and has warned his team-mates they will need to be at their best to advance to the knock-out stages and give themselves the opportunity to go one better than last season.
"It's a very strong group," he told Telefoot. "Perhaps the most spicy of all, but we are ready. It will be challenging against Leipzig and Manchester United, who we know well. Also, it's never easy to play in Turkey.
"There is a feeling of revenge. We want to show everyone we can fight again for this Champions League, but this group of the first round is very strong. If we miss out on a game, we can be eliminated.
"It will be necessary to be attentive. It will be necessary to prepare for all the matches like finals. Error is prohibited. Everyone dreams of winning this Champions League. We have to play with optimism and the conviction that we are going to win it."
Manchester United completed a stunning last-16 win over PSG in the 2018-19 season, the Red Devils coming back from a 2-0 first leg defeat at Old Trafford to win 3-1 in Paris courtesy of Marcus Rashford's stoppage-time penalty.
PSG head coach Tuchel agreed with Herrera's assessment that it is a tough group and says he will be aiming to mastermind a repeat of the win at Old Trafford two seasons ago.
"We are happy and looking forward to returning to the Champions League soon," he told PSG TV.
"It's a very difficult draw, but the goal is to get through this group stage. We know Manchester United very well. We will of course try to repeat the result obtained two seasons ago at Old Trafford and do better at Parc des Princes.
"I don't know much about Istanbul Basaksehir at the moment, but playing international matches in Turkey is always a big challenge."