The Azzurri will face Brazil in an international friendly in London on Wednesday.
“Brazil and Italy can never ever be a normal game,” Cannavaro said in an interview with Sky Italia.
“We are all very anxious prior to this match, and it is right for us to feel that way, despite it only being a friendly.
“Here are two nations that have won nine world cups between them, and that have played in so many finals along the way.”
He added: “We are both the history of football, and so Lippi was right when he said that this will be the derby of the world.
“I feel very emotional to be apart of such a significant match, as do many of my team mates.
“Kaka is set to miss for the Brazilians, which is disappointing, however they have so much quality in their squad, and so they can cover any absentee.
“Think of someone like Robinho, with whom I won two Spanish titles with; believe me, he is a phenomenal talent.
“It is an honour to participate in this game, and I cannot wait.”