Premier League leaders Liverpool will face Paris St-Germain in the Champions League last 16, while Real Madrid face Atletico and Aston Villa face Club Brugge.
Holders Real Madrid – who knocked out Manchester City in the knockout phase play-offs – face local rivals Atletico Madrid and Bayern Munich play Bayer Leverkusen in an all-Germany affair.
It will be the first time Liverpool have faced PSG since 2018-19, when the Reds went on to be crowned champions of Europe for the sixth time.
The winners of that tie will face Aston Villa or Club Brugge in the quarter-finals, while Arsenal will meet record 15-time winners Real Madrid or Atletico Madrid in the last eight – should they get past PSV.
The two-legged last 16 ties will be played on March 4-5 and March 11-12.
Last-16 draw in full:
Club Brugge vs Aston Villa
Real Madrid vs Atletico Madrid
Borussia Dortmund vs Lille
PSV Eindhoven vs Arsenal
Feyenoord vs Inter Milan
Paris St-Germain vs Liverpool
Bayern Munich vs Bayer Leverkusen
Benfica vs Barcelona