Sheffield Wednesday are due to meet Hull City at Wembley on Saturday.
Sheffield Wednesday are set to take on Hull City at Wembley on Saturday, with a place in the Premier League the prize for the victors.
Wednesday beat Brighton & Hove Albion to make it to this stage, while Hull overcame the challenge of Derby County.
The Owls go into the match as the underdogs, but Murphy has given Carlos Carvalhal’s side a chance of earning promotion.
"They could well do," Murphy said, when asked whether Wednesday could win promotion. "Nobody gave them much chance against Brighton. One thing I noticed about Hull is that a few of their players looked a bit tired. I reckon it’s 50/50 that game."
Wednesday finished the regular Championship season in sixth place, but they have already got past Brighton - who finished 15 points ahead of them.
Hull ended up in fourth place in the Championship standings, but their route to the play off final was far from comfortable.
Hull beat Derby 3-0 in the first leg of their semi-final tie, but they ended up squeezing past Darren Wassall’s side, after losing the second leg 2-0.
When Hull and Wednesday met in the regular season, the two sides drew both their matches.