It's the tie that Jurgen Klopp claimed he didn't want but the reds have been drawn against tournament favourites Borussia Dortmund in the undoubted clash of the round.
The first game will be held at the Westfalendstadion in Germany, the scene of many of Jurgen's triumphs up until he left at the end of last season.
The return fixture will be at Anfield and will come a day before the final Hillsborough memorial service on the 27th anniversary of the disaster which killed 96 Liverpool supporters.
Thomas Tuchel, the new boss of Dortmund, said:
"We want to measure ourselves against the best. For all football fans this is a dream draw.'
Whilst the CEO, Hans-Joachim Watzke , said:
"We already knew we would meet the reds at some point in this competition. Klopp coming back will be special for him.'
Dortmund defender Neven Subotic added:
"I'm very excited. I honestly didn't know who was left in the draw and to go to a stadium we have already been to... the friendly match we had there [in 2014] was not so well [Dortmund lost 4-0] – and we definitely want to make up for that, and it is very exciting to see Kloppo again. I trained with him for nine years and he has done very well there – he has changed the team – and I'm obviously excited to play against his new team. It's definitely going to be nice to see him again."
The first leg will be on the 7th April, the second leg will be played on the 14th April.
In the other ties
Athletico Bilbao v Sevilla
Braga v Shakhtar Donetsk
Villarreal v Sparta Prague