The 45-year-old, who beat Larry Butler 4-0 in round two, is top of the BDO rankings after a successful 2015.
"I'd rather be favourite. When I was the outsider, nobody was interested.
"Maybe I have got a target on my back but since winning the World Masters, everything's gone really well, so bring them on," he told BBC Sport
Martin Adams and Jeffrey de Graaf, who were seeded second and third respectively at Lakeside, were beaten in the first round.
But Middlesbrough's Durrant said he has not been affected by other leading contenders making shock exits from the tournament, adding: "The seeds have gone in the bottom half of the draw.
"Everything's gone as planned in the top half of the draw, so who I thought I'd be playing is still on.
"It's the bottom half, people like Scott Mitchell and Jeff Smith, who will be licking their lips."
Durrant recovered from a narrow World Championship semi-final defeat by Adams 12 months ago to win six ranking titles last year.
"My confidence is sky high," he continued. "I'm in the quarter-finals at Lakeside - that's what we practice for, why we play local leagues, county darts and the tour. I'm in a great place."
Glen Durrant said he is enjoying the scrutiny that comes with being the number one seed after reaching the last eight of the BDO World Championships.