Jurgen Klopp’s side, who will be cursing finishing second in their group, will be looking to avenge their defeat to Real in the final in Paris in May.
Real Madrid are synonymous with the Champions League thanks to their storied history in the competition, including the 2021-2022 main event in Paris, Los Blancos have reached 17 finals and have won 13 of those.
Liverpool fans will be disappointed by the draw as the Reds have struggled for consistency in the league this season – although they earned a vital 2-1 win away at Spurs on Sunday.
But they will look to rectify their form ahead of their last-16 clash with the LaLiga giants, who are currently second in their league.
Pep Guardiola’s Manchester City side will take on RB Leipzig in the last-16 as they bid to win the Champions League for the first time.
City – who have reached the knockout stage for a tenth consecutive season having topped Group G – will be eager to prove their worth in the Champions League.
They will need to bypass Leipzig, who qualified for the last 16 by finishing as runners up in Group F, to take a step closer to the silverware.
Two-time champions Chelsea will play Bundesliga giants Borussia Dortmund.
Chelsea topped their group following wins over Italian champions AC Milan. But they are currently winless in their last four following Sunday’s disappointing 1-0 defeat to Arsenal and will need to improve if they are to reach the quarter-finals.
Two-time European champions Dortmund suffered an early exit to eventual winners Real Madrid last year and will be keen to spring a surprise against Graham Potter’s men.
Tottenham – who have returned to the Champions League knockout stages for the first time in three seasons – will go up against AC Milan.
Antonio Conte will be delighted with the draw considering he has won more matches in all competitions against Milan than he has versus any other side in his managerial career.
UEFA will now work on cementing the final schedule before releasing the dates assigned to each matchup.
First legs will be held across February 14 and 15, and 21 and 22, before the return fixtures take lace between March 7 and 8, and March 14 and 15.
Champions League Tickets
Last Sixteen First Leg
RB Leipzig vs. Manchester City – Buy Champions League Tickets
Club Brugge vs. Benfica – Buy Champions League Tickets
Liverpool vs. Real Madrid – Buy Champions League Tickets
AC Milan vs. Tottenham Hotspur – Buy Champions League Tickets
Eintracht Frankfurt vs. SSC Napoli – Buy Champions League Tickets
Borussia Dortmund vs. Chelsea – Buy Champions League Tickets
Inter Milan vs. Porto – Buy Champions League Tickets
PSG vs. Bayern Munich – Buy Champions League Tickets
Last 16 Second Leg
Manchester City v RB Leipzig – Buy Champions League Tickets
Benfica v Club Brugge – Buy Champions League Tickets
Real Madrid v Liverpool – Buy Champions League Tickets
Tottenham Hotspur v AC Milan – Buy Champions League Tickets
SSC Napoli v Eintracht Frankfurt – Buy Champions League Tickets
Chelsea v Borussia Dortmund – Buy Champions League Tickets
Porto v Inter Milan – Buy Champions League Tickets
Bayern Munich v PSG – Buy Champions League Tickets