Bayern will take on two-time European champions Juventus in the first knockout round of the Champions League. Wolfsburg were given a favorable tie in Belgium, while Arsenal and in-form Barcelona will clash.
German champions Bayern Munich have been paired with Juventus in the Last 16 of the Champions League.
The Bavarians are unbeaten in their last five meetings with last season's beaten finalists and overcame the Old Lady in 2013 at the quarterfinal stage before going on to win their fifth title. "We hoped for better luck in the draw today, but we're confident that we can put in good performances," said Juve legend Pavel Nedved.
Meanwhile, Klaus Allofs got his wishes as Wolfsburg was drawn with Belgian side Gent who are making their debut at this stage of the competition. "We are delighted," beamed Wolfsburg's sporting director after the draw. "It looks interesting, but also very winnable," added Allofs.
Perhaps the tie of the round is between Arsenal and Barcelona. But the Gunners have won just one of their last seven meetings with the current European champions who are competing in FIFA's Club World Cup this week. The pair contested the 2006 Champions League final, which Barcelona won 2-1.
Jose Mourinho's struggling Chelsea will face French champions Paris Saint-Germain for the second time in successive seasons. Manchester City meet Dynamo Kyiv, while 10-time winners Real Madrid are at Roma.
The first leg matches will be played on February 16/17 and 23/24 with the return leg on March 8/9 and 15/16.
Champions League Last 16 draw:
Gent vs. Wolfsburg
Juventus vs. Bayern Munich
Arsenal vs. Barcelona
PSG vs. Chelsea
PSV Eindhoven vs. Atletico Madrid
Benfica vs. Zenit
Roma vs. Real Madrid
Dynamo Kyiv vs. Manchester City