Porto must keep this standard up - Conceicao
Goals from Yacine Brahimi, Alex Telles, Tiquinho Soares and a Vincent Aboubakar brace ensured Porto held onto second place in Group G ahead of RB Leipzig, despite Felipe being sent off for his part in a first-half clash with Rachid Ghezzal, who was also dismissed.
The result left Porto with three wins, a draw and two defeats from their six group games and Conceicao praised his side, who are now unbeaten in 10 matches in all competitions.
"I congratulate the players," he told reporters. "This was our dream.
"We had clearly defined goals and we handled everything that came at us.
"We have to not let our standard drop, so that we can keep dreaming."
Telles, who scored Porto's fourth goal and his first in the Champions League just four minutes after Kamil Glik scored from the penalty spot for Monaco, said: "We are to be congratulated, we deserve to qualify.
"Our dream is very large, and we are taking it game by game.
"I am very happy to score my first goal in the Champions League. It is a night that will be remembered, for sure."
65' GOLO! / GOAL! / ¡GOL!
FC Porto 4-1 AS Monaco#FCPorto #FCPASM #UCL pic.twitter.com/SfLojPTQ5m
— FC Porto (@FCPorto) December 6, 2017
The crowd at the Estadio do Dragao applauded former Porto striker Radamel Falcao when he came on as a second-half substitute for Monaco, before scoring a late consolation goal.
The Colombian forward, who won the Primeira Liga and the Europa League with Porto, said: "For me it was a huge pleasure to come here and play in Porto. It's like my home. I won a lot of trophies here."
Falcao said he believes Monaco, who are third in Ligue 1 and nine points behind leaders Paris Saint-Germain, can recover from their difficult start to the season.
"We have to focus on the league and the two domestic cups," he said. "It's sad not to be continuing in the UEFA Champions League, but that's football.
"Our team changed a lot in the summer and we need time to get stronger. We are capable of finishing second in the league in order to return to this competition."