In an audio message broadcast on Libya's state TV, Gaddafi said, "Hundreds of Libyans will martyr in Europe. I told you it is an eye for an eye and tooth for a tooth. But we will give them time to come to their senses".
Gaddafi lashed out at the West following heightened strikes by NATO forces and increasing pressure from rebels who are approaching Tripoli, The Daily Star reports.
Gaddafi also said he will press charges against NATO and the European Union, and vowed to 'liberate Europe from imperialist nations and defeat the aggressors.'
On Friday, Gaddafi declared that 'the Libyan regime will not fall. It is the people's regime, not Gaddafi. NATO is wrong.'
The uprising to oust Gaddafi, who has been in power for 42 years, began in mid-February as protests turned into an armed conflict after the government's lethal crackdown on demonstrators.
The International Criminal Court (ICC) has also issued an arrest warrant against Gaddafi for alleged crimes against humanity.