Arsenal have been drawn against Barcelona while PSG will face Chelsea in the Champions League last 16.
The Gunners have been knocked out at the last 16 stage in the last five consecutive seasons and will have to overcome the holders, whom they lost to back in 2011 having held a 2-1 first-leg lead, if they are to break that trend.
Chelsea's tie against runaway Ligue 1 leaders PSG is a repeat of the 2014-15 last 16 clash, with Laurent Blanc's side having come out on top over the two legs on away goals as they held the Blues to a 2-2 draw at Stamford Bridge.
Rafael Benitez's Real Madrid, meanwhile, will meet Serie A side Roma, with Cristiano Ronaldo looking to add to the record-breaking 11 goals he scored in the group stage of the competition.
Last year's beaten finalists Juventus have been handed a tricky test against Bundesliga champions Bayern Munich, who topped Group F with 15 points, and Manuel Pellegrini's Manchester City will take on Dynamo Kyiv.
Zenit, who boast the third highest scorer in the group phase in Artem Dzyuba, tackle Portuguese side Benfica, while Atletico Madrid have been drawn against PSV and Wolfsburg clash with Gent.
The first leg matches will take place over February 16-24, with the return matches scheduled between March 8-16.