The north Londoners showed their title credentials on Wednesday night when Dele Alli scored twice as Spurs won 2-0 against leaders Chelsea at White Hart Lane to climb to third in the table, above Manchester City and Arsenal.
The side still trail Antonio Conte's Blues by seven points in the race at the top but are now the form team in the division, their latest success meaning they have now won five games on the bounce.
Spurs are also six points better off than at the same stage last year, but the competition is fiercer this time around, with Liverpool, Arsenal, Manchester United and Manchester City also in the hunt.
Dembele says his team are ready to claim the top prize having lost out to Leicester last season.
"I felt ready last season as well," he said.
"We know it was a very important win for us, I think everybody is happy for that win because if not, it would be very difficult to catch them.
"Now it's just game by game and with the quality we have we can do whatever we want. We proved last year we can do something.
"We have played very well in the last few games and with the confidence from today we can have a good run and then anything is possible."
Dembele also believes that the performance and win against Chelsea, which wrecked the Blues' bid to seal a record-breaking 14th consecutive league win, was evidence of their developing maturity together.
"I think we played very well last time against them as well but now when we scored, we didn't panic, we kept on playing the ball and wanted to score the second one and that was very important," he added.
"That was the difference between now and then. Last time, and last year as well, we scored and then we changed our game, we tried to play different, we panicked more and today we were very adult. We were relaxed.
"In the past we always had positive feelings because we played well but we didn't win. So I'm happy we changed something, maybe in our mentality and our thinking.
"It's another year together, one year more with the manager as well, I think it's very important."