Also, German giant Bayern Munich will play Shakhtar Donetsk of Ukraine.
The first legs are scheduled for 17, 18, 24 and 25 February, with the second legs on 10, 11, 17 and 18 March.
The final for Europe's elite club competition will take place in Berlin's Olympic stadium next June.
DRAW IN FULL
* Paris St Germain (France) v Chelsea (England)
*Manchester City (England) v Barcelona (Spain)
*Bayer Leverkusen (Germany) v Atletico Madrid (Spain)
*Juventus (Italy) v Borussia Dortmund (Germany)
*Schalke 04 (Germany) v Real Madrid (Spain)
*Shakhtar Donetsk (Ukraine) v Bayern Munich (Germany)
*Arsenal (England) v AS Monaco (France)
*FC Basel (Switzerland) v Porto (Portugal)