Manchester City will face Atletico Madrid, Liverpool will face Benfica, and Bayern Munich will face Villarreal.
The winner of the Chelsea vs. Real Madrid match will face Atletico Madrid or Manchester City in the semi-finals, while Benfica or Liverpool will face either Villarreal or Bayern Munich.
The two-leg quarter-finals will be held on April 5-6 and 12-13.
The first legs of the semi-finals will be held on April 26-27, followed by the second legs on May 3-4.
The final will be held on Saturday, May 28 at the Stade de France in Paris, after being relocated from St Petersburg following Russia’s invasion of Ukraine.
West Ham will face Lyon in their first European quarter-final since 1981 in the Europa League.
Rangers will face Braga of Portugal, while Eintracht Frankfurt will face Braga of Germany.
Chelsea will face a rematch with former manager Carlo Ancelotti, who won the Premier League and FA Cup double during a two-year stint at Stamford Bridge between 2009 and 2011.
The Italian is one of only three managers to have won the Champions League three times, including with Real Madrid in 2014. He returned to the Spanish giants for a second stint last summer after leaving Everton.
Last season, Chelsea and Real met in the semi-finals, with Thomas Tuchel’s side winning 3-1 on aggregate before defeating Manchester City in the final.
In five previous meetings with Real Madrid, the London club has never lost.
Atletico Madrid have the opportunity to complete a Manchester double after being drawn against Pep Guardiola’s City. Diego Simeone’s side defeated Manchester United 2-1 on aggregate in the quarter-finals.
It will be the first competitive meeting between the sides in European competition, with City aiming for their first Champions League title after defeating Sporting Lisbon 5-0 on aggregate to reach this stage.
Meanwhile, Liverpool has played Portuguese giants Benfica ten times in Europe, most recently in the Europa League quarter-finals in 2010, winning 5-3 on aggregate.