The 21-year-old may only be in his second season in the Heineken Cup, but he has already overtaken Glen Jackson as Saracens leading points' scorer in the tournament and is one step away from reaching his first European final.
"It makes it a bit special never having been involved in a Heineken Cup semi-final before. To do it with a great group of lads is brilliant and we are all looking forward to the challenge Toulon set.
"We will try and work out their strengths and weaknesses and really focus on ourselves to better ourselves."
Farrell believes the bitter disappointment of losing at home to ASM Clermont Auvergne in the quarter-finals last year taught the team a lesson and they have progressed from there. Certinaly, their Pool campaign was a positive one and they were much the better team in the last eight this season.
"We've come on leaps and bounds as a team since that defeat to Clermont. They came over and we were never really in the game," explained Farrell.
"We had won the Premiership the year before, but that put things into perspective for us. We got off to a great start in this season's Heineken Cup with a big win over Edinburgh, last season's semi-finalists.
"That was an outstanding start for us, although it took a while to break them down.Going to play in Brussels was a different experience for us, but we've got used to doing things differently at Saracens and creating different memories.
"Then it was on to Thomond Park, which is a great place to play. Everyone talks about it being one of the best atmospheres in which to play in rugby and it was a tough game and we didn't perform the way we would have liked to. But we got the bonus point in the end with a kick at the death.
"I had missed quite a few that day and it was good to reward the forwards in the end. It was a massive step for us because every point counts in this competition.
"We then found ourselves 20 points down in Nantes with 20 minutes to go against Racing Metro. They are a brilliant team with some unbelievable players - they were capable of turning nothing into a try.
"It didn't feel we were ourselves in that game, but we knew that once we regrouped we were going to be alright and would claw our way back. But to actually win the game having been 20 points behind was massive.
"I don't think anything effects us. We like playing the big occasions, but we don't pick and choose when we turn up.
"If things don't go our way in the first 10 or 20 minutes we bounce back straight away - we don't drop our heads and that is a massive quality in this team."
Those qualities were certainly required in a tough quarter-final against Ulster and Farrell was delighted with the performance of his forwards.
"I thought we were very professional in our performance. We did the right things and played what is in front of us," he added.
"Ulster have one of the best defences around - they are well coached and organised - and it was going to take some hard work and grit to break them down. The pack was outstanding, especially against such a renowned pack. To get a result like that against a team like that was a massive scalp."
Can they take another one on Sunday?