Roy Hodgson expects Euro 2016 to be one of the closest editions of the tournament so far, with as many as six teams capable of winning the competition.
Hodgson's England won all 10 of their qualifying matches and will be aiming to put past tournament disappointments behind them in France next year.
Defending champions Spain and three-time victors Germany will also be at the finals and Hodgson is reluctant to pick a frontrunner.
"I think it's going to be an exciting Euro because I don't know that there is one team which is clear, clear favourite," Hodgson said. "But I do think there are as many as five or six teams that, on a good day, could go all the way."
Hodgson has been particularly impressed with Spain's recent form and, ahead of their friendly on Friday, says Vicente Del Bosque's side will be the team to beat in seven months' time.
He added: "If you are asking me if Spain are capable of winning a third one, I'd say 'yes, I do think they're capable. No question.'
"They have the quality, they have the experience they have a manager who has been there before, knows what it's like to win major tournaments, and they have a lot of competition for places.
"In almost every place there are two top-class players, so they have the potential without a shadow of a doubt.
"[But] I think there are other teams out there who will be similarly believing, hoping and thinking that they could win it on a good day."