Elsewhere there's a reunion for Didier Drogba and Jose Mourinho, Real Madrid take on Schalke and Manchester United draw Olympiakos at the round of 16 stage.
Manchester City against Barcelona is the pick of the ties to emerge from Monday's Champions League Round of 16 draw in Nyon.
The Spanish champions will face Manuel Pellegrini's free-scoring side after being drawn first out of the pot in the proceedings. Jose Mourinho faces another reunion with former striker Didier Drogba after his Chelsea side were drawn against Galatasaray, who edged out Juventus on matchday six of the group phase.
Arsenal will face Bayern Munich, meanwhile, in a repeat of their encounter from last season, while fellow Bundesliga outfit Schalke face the daunting task of nine-time champions Real Madrid.
Elsewhere, Manchester United will face Greek champions Olympiakos, while Paris Saint-Germain take on Bundesliga high-flyers Bayer Leverkusen.
AC Milan's reward for edging into the last 16 is Diego Simeone's Atletico Madrid. Finally, Borussia Dortmund - beaten finalists last season - face Russian giants Zenit St Petersburg.
The sides who finished as group runners-up will host the first leg encounters on the February 18/19 and 25/26, while the second legs take place on March 11/12 and 18/19.
Manchester City vs Barcelona
Olympiakos vs Manchester Utd
AC Milan vs Atletico Madrid
Bayer Leverkusen vs Paris Saint-Germain
Galatasaray vs Chelsea
Schalke vs Real Madrid
Zenit St Petersburg vs Borussia Dortmund
Arsenal vs Bayern Munich