The likes of Arsenal, Manchester United, Real Madrid and Barcelona will find out who their opponents will be when the Champions League draw takes place in Nyon.
The Gunners, who only managed a second-place finish, could be involved in another matchup against Spanish powerhouse Barcelona, while United could possibly set up a clash with Real Madrid and Cristiano Ronaldo in the last-16.
There are several intriguing clashes that make the draw so exciting and Alex Song, who moved from Arsenal to Barca on the summer, is hoping to draw his old team in the pre-quarters, which will be played over two legs.
"Of course I would like to play against Arsenal," he said. "For me to go back there, where I had seven magnificent years, would be something very special.
"If we draw Arsenal I'd be happy to see the fans again and go back to the club, even though if we go there it will be to get the best result possible.
"Arsenal's a big club, but Barcelona's a level above because of the talent of the players there.
"That's no disrespect to Arsenal because they have talented players, but I think the Barcelona players are above them. I saw a lot of people come and a lot of people go at Arsenal."
United might welcome back their former favorite Ronaldo, with Real finishing second in their group below German champions Borussia Dortmund.
With Manchester City and defending champions Chelsea knocked out in the group stages, the Premier League has only two clubs vying for the Cup this year, and both United and Arsenal will be hoping for a kind draw.
The group winners will be drawn against a runner-up with the teams from the same group in the group stage and clubs from the same country exempted from facing each other.
Arsenal's possible opponents in the last-16: Paris Saint Germain, Malaga, Borussia Dortmund, Juventus, Bayern Munich and Barcelona.
Manchester United's potential opponents in the last-16: Milan, Celtic, Porto, Shakhtar Donetsk, Valencia, Real Madrid.
To watch Champions League Draw Live Stream, click here.
Group winners: PSG, Schalke, Malaga, Borussia Dortmund, Juventus, Bayern Munich, Barcelona, Manchester United.
Runners-up: Porto, Arsenal, AC Milan, Real Madrid, Shakhtar Donetsk, Valencia, Celtic, Galatasaray.
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