Manager David Moyes spent around £17m in bringing in defenders Johnny Heitinga and Sylvain Distin from Atletico Madrid and Portsmouth respectively and Lokomotiv Moscow midfielder Diniyar Bilyaletdinov.
That outlay has been overshadowed by the likes of Manchester City, Aston Villa, Sunderland and Tottenham Hotspur.
However, Everton have finished fifth the last two seasons and despite a shaky start Osman is convinced they will challenge again.
"We like to do things quietly here, stay under the radar and keep chipping away at things," he said.
"Hopefully we can finish in a European slot again.
"There are two or three clubs not in the top four last season who have been throwing cash around and they'll be expected to get European qualification, but we're the same.
"We set our targets on European qualification as a minimum, but the great ambition for the club is to start winning silverware."
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