“We haven’t played Champions League for two years, it would be great. But I’m not sure I would be satisfied”
Arsenal consistently qualify for a Champions League jackpot but last took the title in 2005.
Klopp added: “They didn’t win the league for many years, so even with success you can be disappointed.
“You have to be thankful for the things you get, it’s a very important thing in life.
“If I say today the only position which could make me happy would be first place, it would be silly.
“I want to look back after the season really satisfied. It’s clear that winning all, then maybe we would be too drunk to look back!”
Club owners Fenway, who fired Brendan Rodgers to install Klopp, might not be satisfied with fourth either.
Klopp, who also reached the Europa Legue final in May, said: “They want to see development and improvement. They want us to win as much as we can, but no specific targets.
“They’re absolutely convinced about the way we’ve taken. You want to see where it leads.