Manchester City will play Atletico Madrid, with the winners facing Chelsea or Real in the semi-finals.
ADVERTISEMENTHolders Chelsea have been drawn against the record 13-time winners Real Madrid in the quarter-finals of the UEFA Champions League.
The English side defeated Real in the semi-finals of last year's competition en route to their second-ever title.
La Liga champions Atlético Madrid will meanwhile play last year's runner-up and Premier League champions Manchester City.
The semi-final draw could either pair last year's finalists together or see either a rematch of the 2014 and 2016 finals – when Real twice beat Atlético.
The third quarter-final match sees 2021 UEFA Europa League winners Villarreal take on 2020 UEFA Champions League victors Bayern Munich.
The winner of that matchup will then play either Liverpool -- six times Champions League winners -- or Portuguese side Benfica -- who last won the European Cup in 1962.
The two-legged quarter-finals will take place on 5/6 and 12/13 April, before the semi-finals on 26/27 April and 3/4 May.
This year's UEFA Champions League final is now due to be held at the Stade de France in Paris on 28 May. St. Petersburg was stripped of final last month following Russia's invasion of Ukraine.
UEFA Champions League QF - full draw
- Chelsea (ENG) vs Real Madrid (ESP)
- Manchester City (ENG) vs Atlético Madrid (ESP)
- Villarreal (ESP) vs Bayern Munich (GER)
- Benfica (POR) vs Liverpool (ENG)
UEFA Champions League SF - full draw
- Manchester City / Atlético Madrid vs Chelsea / Real Madrid
- Benfica / Liverpool vs Villarreal / Bayern Munich
Meanwhile, in the UEFA Europa League quarter-finals, Spanish giants Barcelona were drawn against Eintracht Frankfurt.
Scottish champions Rangers will face Portuguese outfit Braga while West Ham United take on Olympique Lyonnais.
The fourth Europa League quarter-final sees another German side, RB Leipzig, face Atalanta of Italy.
The final of the 2022 UEFA Europa League will take place at the Ramón Sánchez Pizjuán in Seville on 18 May.
UEFA Champions League QF - full draw
- RB Leipzig (GER) vs Atalanta (ITA)
- Eintracht Frankfurt (GER) vs Barcelona (ESP)
- West Ham United (ENG) vs Olympique Lyonnais (FRA)
- SC Braga (POR) VS Rangers (SCO)
UEFA Champions League SF - full draw
- RB Leipzig / Atalanta vs Braga / Rangers
- West Ham United / Olympique Lyonnais vs Eintracht Frankfurt / Barcelona
The quarter-final draw of the UEFA Europa Conference League also took place on Friday and saw Norwegian side Bodø/Glimt reunited with Jose Mounriho's AS Roma.
The Nordic side defeated their Italian opponents 6-1 in the group stage of the competition in October before a 2-2 draw in the reverse fixture.
UEFA Europa Conference League QF - full draw
- FK Bodø/Glimt (NOR) vs Roma (ITA)
- Feyenoord (NED) vs Slavia Praha (CZE)
- Olympique Marseille (FRA) vs PAOK (GRE)
- Leicester City (ENG) vs PSV Eindhoven (NED)
UEFA Europa Conference League SF - full draw
- Leicester City / PSV Eindhoven vs FK Bodø/Glimt / Roma
- Feyenoord / Slavia Praha vs Olympique Marseille / PAOK
The final of the third tier European competition takes place in Tirana's 21,690-capacity National Arena -- the first time Albania has hosted a UEFA final.