Manchester City will play FC Copenhagen in the Champions League last 16, while Arsenal will take on Porto.
After finishing top of both their respective groups, holders City will travel to Denmark and the Gunners will make the trip to Portugal for the first legs in February.
They are the only two British sides involved in the knockout rounds after Manchester United, Newcastle and Celtic exited at the group stage.
Harry Kane’s Bayern Munich will face Lazio, while Jude Bellingham’s Real Madrid – the record 14-time winners – have been drawn against RB Leipzig.
Real’s city rivals Atletico Madrid take on last season’s runners-up Inter Milan, while Spanish champions Barcelona were handed a tough assignment against Serie A winners Napoli.
Paris Saint-Germain will play Real Sociedad and Borussia Dortmund face PSV Eindhoven.
The last 16 is played over four weeks at the start of 2024. The first legs will take place on February 13, 14, 20 and 21, with the second legs being played on March 5, 6, 12 and 13.
Champions League last-16 draw in full
Porto vs Arsenal
Napoli vs Barcelona
Paris Saint-Germain vs Real Sociedad
Inter Milan vs Atletico Madrid
PSV Eindhoven vs Borussia Dortmund
Lazio vs Bayern Munich
FC Copenhagen vs Manchester City
RB Leipzig vs Real Madrid