Reigning champions Real Madrid will face 2023 winners Manchester City in the plum tie of the play-off round of this season's Champions League, following Friday's draw.
It is the fourth year running in which the sides have been drawn against each other in a knockout tie, with Real emerging victorious in a penalty shoot-out in the quarter-finals last season.
City, who scraped through after finishing 22nd in the league phase in this first season of the new format for Europe's elite club competition, will be at home in the first leg before going to Spain for the return.
Elsewhere, Celtic will face six-time European champions Bayern Munich, after the Scottish champions reached the knockout stage for the first time in 12 years.
Paris Saint-Germain will play surprise package Brest in an all-French tie, while Juventus play PSV Eindhoven and Feyenoord take on AC Milan in two ties between former winners of the competition.
Last season's Europa League winners Atalanta, who finished one place outside the top eight which offered a direct path to the last 16, will face Club Brugge of Belgium.
Sporting of Portugal were drawn against last season's runners-up Borussia Dortmund, while Monaco will take on Benfica having lost at home to the Portuguese club in the league phase.
The play-off ties will take place next month, with the eight winners going through to the last 16 along with the eight highest-placed sides from the league phase.
Liverpool, Barcelona, Arsenal, Inter Milan, Atletico Madrid, Bayer Leverkusen, Lille and Aston Villa are the sides already through to the last 16.
Those teams finished in the top eight in the standings in the 36-team league phase - the first season of the new format for the competition saw all competing clubs placed together in one giant pool, each playing eight games against eight different opponents.
The draw for the remainder of the competition is partly pre-determined, meaning that whoever emerges triumphant in the tie between City and Real knows they will play either Atletico or Leverkusen in the last 16.
The draw for the last 16 onwards will take place on February 21, and it remains to be seen if Liverpool derive any advantage from having come first in the league phase.
Arne Slot's team will play either PSG or Brest, or Monaco or Benfica, in the last 16 in March.
This season's Champions League final will be played at Allianz Arena in Munich on Saturday, May 31.
KNOCKOUT PHASE PLAYOFFS DRAW
Wednesday, February 12 (2am Bangladesh time unless stated)
Brest v PSG (11:45pm Bangladesh time, Tuesday, February 11)
Juventus v PSV
Man City v Real Madrid
Sporting v Dortmund
- return legs February 19/20
Thursday, February 13 (2am Bangladesh time unless stated)
Club Brugge v Atalanta (11:45pm Bangladesh time, Wednesday, February 12)
Monaco v Benfica
Celtic v Bayern
Feyenoord v Milan
- return legs February 18/19
Draw for the last 16, quarter-finals and semi-finals will take place on February 21
Draw for the last 16 is based on a pre-determined bracket:
Brest or PSG v Liverpool or Barcelona
Club Brugge or Atalanta v Lille or Villa
Man City or Real Madrid v Atletico or Leverkusen
Juventus or PSV v Arsenal or Inter
Monaco or Benfica v Barcelona or Liverpool
Sporting or Dortmund v Villa or Lille
Celtic or Bayern v Leverkusen or Atletico
Feyenoord or Milan v Inter or Arsenal