Manchester City will face Liverpool in the Champions League quarter-finals.
Liverpool inflicted City's only Premier League defeat of the season at Anfield on 14 January, after they were thumped 5-0 at Etihad Stadium in September.
The first leg is at Anfield on 4 April, with the return on 10 April.
City director of football Txiki Begiristain said: "It's going to be a great couple of games." Liverpool boss Jurgen Klopp added: "I saw his face. He didn't look like it was Christmas."
Holders Real Madrid will face Italian champions Juventus - a repeat of the 2017 final which Real won 4-1 in Cardiff.
La Liga leaders Barcelona, who are looking to win the Champions League for the first time since 2015, face Roma.
Sevilla, who beat Manchester United 2-1 on aggregate in the previous round, take on five-time European champions Bayern Munich.
Clash of the Premier League free-scorers
The tie between Liverpool and City will be the first meeting between Premier League sides in the Champions League quarter-finals since 2010-11, when Chelsea faced Manchester United.
On that occasion, United advanced 3-1 on aggregate on their way to the final, which they lost by the same scoreline to Barcelona at Wembley.
City are 21 points clear of fourth-placed Liverpool in the table - and they are the top two scorers in the Premier League.
City have scored 85 times in 30 games while Liverpool have netted 68 in the same number of matches.
"I knew it would be difficult and that is difficult," said Klopp when asked about the draw on Friday.
"The good news is for Manchester City it will be difficult as well.
"We are for sure not the favourites in this round, but in the last eight there are not a lot of favourites - maybe two of them, Bayern and Barcelona."
'We know the power and strength of Liverpool'
While Liverpool have been crowned champions of Europe five times, City are chasing their first Champions League success.
"It's a very difficult one," said Begiristain.
"We like to travel and to go to another country in the Champions League, but it is what it is.
"In the Champions League there is no time for mistakes, everything has to work, you have to be almost perfect in both games.
"We know the power and the strength of Liverpool."
'We have to go the hard way'
Both City and Liverpool face big derby matches in the Premier League between the first and second legs.
City host Manchester United on Saturday, 7 April at 17:30 BST, five hours after Liverpool visit Everton for a 12:30 kick-off.
"I know countries where they cancel whole match days so teams can be in the best shape," said Klopp.
"We play Wednesday night against Manchester City, and then play Everton at 12:30 three days later.
"That's not too cool but obviously we have to go the hard way, I am used to that. We take it like it is.
"If I cannot be angry about something like that anymore and have to be politically correct and say nothing then I am dead because that doesn't work."
City could be champions of the Premier League by the time they host Liverpool in the second leg.
Champions League quarter-final draw
Barcelona v Roma
Sevilla v Bayern Munich
Juventus v Real Madrid
Liverpool v Manchester City