Ahead of this weekend's ninth round of games, the 27-year-old international from Warsaw, is on a devastating streak of 12 goals, including five in a nine minute burst against Wolfsburg in September.
Bayern, who have won their first eight league matches to top the German top flight by seven points over Borussia Dortmund, are on the road at Werder Bremen in their next outing on Saturday.
"Forty goals is a high target but with him anything is possible," Austrian defender Alaba told the press after a training session on Thursday.
His personal record came during the 2012-2013 season when he scored 24 goals for Dortmund, while he clinched 17 last year for Bayern who easily won their third straight German title.
Older fans may smile when they hear Alaba's claims however, as Muller scored 565 goals in 605 matches with Bayern over a 15-year period which in its finest hours won the European Cup in 1974, 1975 and 1976.