Pep Guardiola's side was knocked out by Los Blancos in the play-off phase in 2024-2025, a year after it was eliminated by the same opposition in the quarter-finals.

The Citizens did get the better of Madrid in the 2022-2023 edition, where they went on to win their maiden European crown, but they did lose in the previous year's semi-finals.

It will also be the second time this season the two European giants have locked horns, with Nico O'Reilly and Erling Haaland on target in a 2-1 league-phase win in December.

Arsenal, which finished at the top of the 36-team league phase, was drawn against Bayer Leverkusen, while second-placed Bayern Munich will take on Serie A side Atalanta.

Liverpool will return to Galatasaray for it Round of 16 clash, with the Reds losing 1-0 at Rams Park in the league phase thanks to Victor Osimhen's 16th-minute penalty.

Defending champion Paris Saint-Germain has a chance of revenge against Chelsea after the Blues' dominant FIFA Club World Cup final victory during the summer.

Tottenham Hotspur faces a tricky test against Diego Simeone's Atletico Madrid, while surprise package Bodo/Glimt has been rewarded with a tie against Sporting CP in the next round after knocking out Serie A leader Inter Milan.

After its historic two-legged triumph over last year's finalist Inter, Bodo became the first Norwegian side to progress in a knockout stage tie in the UEFA Champions League.

Newcastle United will reunite with Barcelona, with the Blaugrana opening its league phase campaign with a 2-1 win at St. James' Park, thanks to Marcus Rashford's brace.

The first legs of those eight ties will take place between 11 and 12 March (AEDT), with the second legs getting underway a week later on 18 and 19 March (AEDT). 

Champions League Round of 16 fixtures:

Real Madrid v Manchester City

Bodo/Glimt v Sporting CP

Paris Saint-Germain v Chelsea 

Newcastle United v Barcelona

Galatasaray v Liverpool

Atletico Madrid v Tottenham Hotspur

Atalanta v Bayern Munich

Bayer Leverkusen v Arsenal