Spanish giant and holder of UEFA Champions League silverware, Real Madrid, will face Bayern Munich in this season’s semi-final.
In the other semi-final tie, Liverpool and AS Roma who put to sword Barcelona in the quarter-final will trade tackles.
The draw was held in Nyon, Switzerland on Friday.
Madrid will be guest of the five-time winners of the Champions League at Alianz Arena in the first leg before travelling to Spain for the return leg at the Santiago Bernabeu a week later.
Liverpool will be at home to Roma at Anfield for the first leg.
In the Europa league, Arsenal is drawn against Spanish side Atletico Madrid while French Ligue 1 outfit Olympique Marseille will face Red Bull Salzburg of Austria in the semi-finals of the 2017/2018 UEFA Europa League.
The first legs will be played on 26 April, and the second legs will be played on 3 May 2018.
Atletico are former winners of the Europa League with triumphs in 2010 and 2012.
The last time Arsenal made it to the final of the Europa League was in 2000 (formerly known as the UEFA Cup).