Manchester City have again been drawn with Spanish giants Barcelona, while Chelsea and Arsenal will face Ligue 1 sides Paris Saint-Germain and Monaco respectively in the last 16 of the Champions League.
Last season, the Citizens were knocked out of the Champions League after suffering a 4-1 (aggregate) defeat to Barcelona in the same stage of the competition.
However, this time around, Manuel Pellegrini's men will be looking to make things a lot harder for Barcelona though the Catalans have been doing pretty well this season.
Chelsea, on the other hand, will be a little confident against PSG as they were able to beat the French champions in the quarter-finals of the Champions League last season.
And considering their form in the Premier League and the group stages of the Champions League this season, Chelsea will be confident of beating PSG and progressing to the last four of the competition.
Arsenal, on the other hand, seem to have their wish fulfilled as manager Arsene Wenger had earlier expressed his desire to play against Monaco rather than facing the likes of Real Madrid and Bayern Munich in the last sixteen of the competiton.
"I don't think many people want Real Madrid. I don't want Bayern Munich and I am sure they don't want us as well," he had told ESPN earlier.
"I am not against Monaco. I have great memories from my time there. They gave me a chance when I was a very young manager. When I arrived they had never passed the first round in the European Cup; we had good times."
The Gunners, who have not been able to progress from the last sixteen of the Champions League for the last four seasons, have a very good chance of moving to the quarter-finals this time around.
The clash between Juventus and Borussia Dortmund will also be very interesting, though the Serie A champions do have an upper hand over the German side considering the contrast in league forms between the two sides.
The first leg of the last 16 ties will be played on 17, 18, 24, 25 February with the second legs on 10, 11, 17, 18 March.
Champions League Round of 16 draw: Paris Saint-Germain vs Chelsea; Manchester City vs Barcelona; Bayer Leverkusen vs Atletico Madrid; Juventus vs Borussia Dortmund; Schalke 04 vs Real Madrid; Shakhtar Donetsk vs Bayern Munich; Arsenal vs AS Monaco; FC Basel vs Porto.