Holders Real Madrid will play Juventus in the semi-final of the Champions League while Pep Gaurdiola's Bayern Munich have been drawn against his former club, Barcelona.
First leg ties take place on the 5th and 6th of May with the return matches scheduled for the 12th and 13th of May.
Real Madrid are attempting to become the first team in Champions League history to retain the trophy.
- Barcelona v Bayern Munich
- Juventus v Real Madrid
Reigning champions Real Madrid will face bitter rivals Atletico Madrid in the Champions League last eight in a repeat of last season's final.
Madrid claimed their 10th European Cup title by beating Atletico 4-1 after extra-time in Lisbon last May and are now bidding to become the first team to defend the Champions League crown.
Atletico will take heart, however, from the teams' meetings this season. Diego Simeone's side have beaten Madrid twice in the league and also knocked Los Blancos out of the Copa del Rey in January.
Champions League quarter-final draw in full:
- PSG v Barcelona
- Atletico Madrid v Real Madrid
- Porto v Bayern Munich
- Juventus v Monaco
First leg matches will be played on April 14th and 15th with return leg fixtures scheduled for the following week.
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Arsenal have been knocked out of the Champions League despite beating Monaco 2-0 away from home. The Gunners needed a third goal to win the Round of 16 tie on aggregate but fell short after goals in each half by Olivier Giroud and sub Aaron Ramsey.
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Nemanja Matic is available for Chelsea's Champions League last-16 second leg with Paris St Germain on Wednesday after serving a two-match suspension.
The midfielder is poised for an immediate return after missing the Capital One Cup final defeat of Tottenham and Premier League win at West Ham for his sending off against Burnley.
John Obi Mikel (knee) is the only definite injury absentee for the contest, which is poised at 1-1 following the first leg three weeks ago.
Provisional squad: Courtois, Cech, Ivanovic, Luis, Fabregas, Zouma, Ake, Ramires, Oscar, Hazard, Drogba, Remy, Costa, Matic, Willian, Cuadrado, Cahill, Terry, Azpilicueta, Blackman, Loftus-Cheek.
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Monaco's shock Champions League victory at Arsenal on Wednesday has been given a royal seal of approval.
Prince Albert II of Monaco, who was in north London to witness the principality club's 3-1 triumph, was surprised and thrilled by the result.
"It's a historic night. Everything went wonderfully. We saw a very determined, well-organised AS Monaco side," he told the Ligue 1 club's website.
"I never thought that one day I'd see the scoreboard at the Emirates Stadium read 3-1 to AS Monaco. It's the kind of game that gives you hope for the end of the season and for the future."
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