United and Arsenal are the two favourites and will meet in showcase final if they win their next 2 matches.
Manchester United and Arsenal were drawn apart on separate sides of the Europa League draw on Friday, paving the way for a possible showdown finale in Poland on May 26.
United - the 2017 winners - are now 7/5 favourites to win the competition, according to Oddschecker, and will play Spanish side Granada in the Quarter Finals.
The winners of that game will face Ajax - the 1992 winners from the Netherlands who United beat in 2017's final - or Italian outfit AS Roma, in the Semi-Finals.
Meanwhile, Arsenal will face Slavia Praha from the Czech Republic, who knocked out another British team, Glasgow Rangers, in the previous round.
The London side are at 23/10 and remain second-favourites for their first-ever Europa League title, after finishing as runners-up in 2000 and 2019.
They would face a potential reunion with former manager Unai Emery and Villarreal, who play Croatian champions Dinamo Zagreb in the fourth Quarter-Final match.
The quarter-final games will be played on 8 April and 15 April, while the semi-final ties are scheduled for 29 April and 6 May.
The winners of the final in the Gdańsk Arena will qualify for the 2021-22 UEFA Champions League.
Here is the full draw for the UEFA Europa League:
Granada (Spain) v Manchester United (England)
Arsenal (England) v Slavia Praha (Czech Republic)
Ajax (Netherlands) v Roma (Italy)
Dinamo Zagreb (Croatia) v Villarreal (Spain)
Granada/Manchester United v Ajax/Roma
Dinamo Zagreb/Villarreal v Arsenal/Slavia Praha