The Blues have been in the driving seat for the majority of the campaign but Spurs have moved to within seven points of their rivals after Saturday's win at Burnley.
The north Londoners have now won five top-flight fixtures on the bounce, reigniting hopes they are capable of catching Antonio Conte's side during the run-in.
Chelsea remain favourites to lift the trophy but Eriksen believes there will be a few more twists and turns on the cards before the season ends.
"On paper we still have a chance, but we know there is a lot in-between. Nine games to go, nine very exciting games to go," he told Sky Sports.
"If you lose some you are out of it, if you win some you are right in it. So of course it will be very tight.
"We are taking one game at a time, and then we will see where we end up."
Spurs also led the chasing pack last season, only to falter during the run-in and finish 10 points adrift of champions Leicester.
But Eriksen is hopeful he and his team-mates have learned their lesson from last season and are better equipped to last the course this time around.
"We are doing everything we can, and I think we do not want to be in that situation again.
"I hope we have learned, and I think we have learned, from that situation. And I think we will put ourselves up better than last season," he added.
Spurs travel to relegation threatened Swansea tomorrow night and could cut Chelsea's lead to four points - if the Blues lose to Manchester City.