Barcelona and Paris Saint-Germain will do battle in a repeat of their memorable UEFA Champions League last-16 tie from three years ago, while holders Bayern Munich were drawn against Lazio in Nyon on Monday.
La Liga giants Barca became the first team in the competition's history to overturn a 4-0 first-leg deficit when they famously defeated PSG 6-1 in the return tie at the same stage in the 2016-17 season.
Neymar scored twice and assisted Sergi Roberto's last-gasp winner on that occasion but his status to face his former club with PSG may be in doubt after the Brazil superstar sustained a serious-looking ankle injury in Sunday's 1-0 loss at Lyon.
Barca also defeated PSG in the quarter-finals en route to treble glory in 2014-15 and in the last eight in the 2012-13 campaign.
PSG finished as runners-up in a competition delayed by the coronavirus pandemic last term, and their conquerors Bayern were paired against Serie A side Lazio for the first time in European competition.
Jurgen Klopp returns to Germany as Liverpool, winners in the 2018-19 season, were drawn to take on RB Leipzig, while there is another Bundesliga versus Premier League tie in the form of Borussia Monchengladbach versus Manchester City - who met in the group stages in both 2015-16 and 2016-17.
The Reds' defence of their trophy was ended by Atletico Madrid last season and the La Liga leaders are aiming for more success against Premier League opposition when they go up against Chelsea, whose manager Frank Lampard was part of their 2012 Champions League-winning side.
Real Madrid, record 13-time champions, face a tricky encounter against great entertainers Atalanta, while Andrea Pirlo's Juventus face Porto, and Sevilla pit their wits against Borussia Dortmund and their goal machine Erling Haaland.
The first legs of the last 16 take place of February 16 and 17, and 23 and 24, with the return fixtures on March 9 and 10, and 16 and 17.
Draw in full:
Borussia Monchengladbach v Manchester City
Lazio v Bayern Munich
Atletico Madrid v Chelsea
RB Leipzig v Liverpool
Porto v Juventus
Barcelona v Paris Saint-Germain
Sevilla v Borussia Dortmund
Atalanta v Real Madrid