The German champions host Roma in Group E as they begin their quest to reach the final in Wembley next May, but Butt says memories of the defeat in Madrid still linger.
"It is meant to be forgotten about, but we still get annoyed about it," he admitted.
- Follow it LIVE from 7.45pm
"But that is also our motivation to attack again in the new season and try to get as far as possible."
Bayern were not regarded as one of the favourites to win the competition last season, yet they upset the likes of Fiorentina, Manchester United and Lyon on the way to the final.
And Butt says that the same could easily happen again this season.
"It comes down a lot to your form on the day," he said. "You also need a bit of luck of the draw, but you also saw that, even when you are not particularly one of the favourites, you can go really far.
"That has got to be our motivation for this season."
Despite last year's final appearance Butt has warned his team-mates they must be focused in order to get out of a group which also includes FC Cluj and Basle.
"We have definitely got to go through," he said. "But it won't be as easy as you might think. Roma are a great team and were runners-up in Italy."
Bayern are still without Franck Ribery, who serves the final game of the suspension he picked up after the semi-final last season.
Apart from long-term injury absentees Arjen Robben and Breno, coach Louis van Gaal has a fully fit squad to choose from.
Bayern are faced with the challenge of playing six games in the next 17 days, and Van Gaal is considering rotating his side.
"Maybe I should give some other players a chance," he said.
Roma, meanwhile, will be hoping to finally get their season on track having claimed just one point from their first two Serie A matches. They go into the encounter at the Allianz Arena on the back of Saturday's 5-1 debacle at Cagliari.
Roma coach Claudio Ranieri hopes the team can turn thing around quickly.
"To have given away five goals is painful," he said. "But it's better that it has happened now and not later in the campaign.
"We need to react. We have the team to do well but the players have to bring out their best."
Roma captain Francesco Totti, who played just 25 minutes against Cagliari as he was rested for Wednesday's game, is confident his team will produce an improved performance.
"I am not worried because I know that the true Roma is not the one we have seen so far," said Totti. "Let's not forget that last season we lost our two opening games of the season but we hit back in style."
To complicate matters for Roma, they travel to Germany without the likes of John Arne Riise, Philippe Mexes, Rodrigo Taddei, Mirko Vucinic and Stefano Okaka, who are all sidelined through injury.
The only consolation for Ranieri is that Brazilian striker Adriano has recovered from a muscular injury.
The Brazil forward could make his first appearance since rejoining the Eternal City outfit.
end
Source: DSG
