City, 2-1 down on aggregate, must beat the Toffees to progress to the final.
With a number of possible scenarios, a 1-0 victory for the Blues would be enough after added time with away goals then counting double; a 2-1 win would mean penalties and a two-goal winning margin or more would be enough on the night.
“We all want to get to Wembley and have a fantastic memory,” said Otamendi. “It’s important for the Club, for the players and it means so much for our supporters.
“Of course it’s always nice to go through to the final of a tournament and this is not just my objective, it’s the team’s target to be at Wembley in February.
“We just need to make sure we’re at our best and go for it and with our fans behind us, we are confident we can go through.”
The first leg at Goodison Park saw the Toffees gain a narrow advantage and Roberto Martinez’s side then visited the Etihad a week later in the league to claim a 0-0 draw.
Otamendi is hoping it will be third time lucky as City look to overturn the one-goal deficit and progress to the first major domestic final of 2016.
“The key will be to work well as a team and stay very organized throughout the team, from front to back,” said Otamendi.
“We have enough quality players to believe we can do it, but we need to be patient and take our chances to score when they present themselves.
“The first leg, away at Everton, wasn’t good for us and we didn’t play anywhere near as well as we can, but we must think there are still 90 minutes to go and we can do it.
“Everton are a good side and didn’t get to the semi-finals by luck. They travel very well and have only lost once in the league on the road all season, so we know we face a battle.
“I think the major factor will be home advantage – we need our fans to make plenty of noise, get behind us from the first moment and lift us when we need it.
“In turn, we’ll be doing our best to give them plenty to sing and shout about by making sure we give everything on the pitch.”
