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The PSG gaffer believes that Real Madrid has a greater chance to seal all the three points from Barcelona in the El Clasico.
According to PSG manager, Real Madrid is favorite to make the last smile after that EL Clasico match.
The La Liga reigning Champions will host Barcelona in this Saturday at their home turf Santiago Bernabeu, but so far this season the Los Blancos side is 11 point aback than their arch-rivals in the table.
Though Real Madrid has one extra match in their hand because of their successful campaign at FIFA club world cup.
The PSG gaffer will be at Bernabeu to prepare his side for the last 16 Champions League clash against Real Madrid.
In an interview, Emery said: "They are many points behind, but on Saturday if one team is favourite to win then it should be Real Madrid, as they're at home,"
"[Home advantage] is important in a Clasico.
"Furthermore, Real Madrid are playing to stay alive in La Liga.
"They need the three points and home advantage is quite important. But you cannot rule out Atletico Madrid for LaLiga either."
This season the Spanish giants failed to showcase their dominance in the La Liga and also in the Champions League because this season they are struggling for consistency.
But Emery voiced: "The fact they've not started well in La Liga could mean something for the second half of the season.
"When the most important matches come along, I am convinced they'll be good.