'I'll need to order some good wine!': Alex Ferguson looks forward to return of Cristiano Ronaldo as Manchester United are drawn against Real Madrid in the Champions League
Celtic to play Juventus and Arsenal are against Bayern Munich
The draw for the last 16 of the Champions League has thrown up some mouth watering ties, the stand out fixture being Manchester United v Real Madrid.
The only other representative from the Premier League, Arsenal, will play last year's beaten finalists Bayern Munich.
Celtic, making their first appearance at this stage of the competition for five years, face Italian giants Juventus.
Elsewhere, Barcelona face a tough assignment to progress after they were drawn against AC Milan.
German champions Borussia Dortmund will play Shakhtar Donetsk in a game that promises to ooze with class.
Valencia and Paris St Germain will both fancy their chances to progress, as will Porto who encounter Spanish side Malaga and Galatasaray who come up against Schalke.
The draw in Nyon, made by former Liverpool favourite Steve McManaman, means a return to Old Trafford for Cristiano Ronaldo who left United for £80m in 2009. It will be the first time the Portuguese forward has faced his former side, and the first time the giants of Spain and England have met since Real Madrid triumphed 6-5 on aggregate in 2003 - a game which saw a different Ronaldo claim the limelight with the one from Brazil scoring a hat-trick.
The game, which will see the first leg played in Madrid, will also see Sir Alex Ferguson come up against his old adversary, and close friend, Jose Mourinho - something the United manager is relishing.
"Well, it's the tie of the round," Ferguson told United's official website.
"It's a great opportunity for our fans to see Cristiano again and also for me to meet up with Jose again - I'll need to order some good wine!"
Manchester United club secretary John Alexander told Sky Sports News: "Everyone wanted to keep this for later in the competition but, out of several stand-out ties, I think this is the one. If history has anything in our favour our one victory against Real Madrid in this competition was in the season when we won the final at Wembley."
United defender Rio Ferdinand played in the 2003 match against Real Madrid, as did Ryan Giggs, while Darren Fletcher was a substitute although he did not come on.
Ferdinand welcomed the draw on Twitter saying: "Oh yes, Madrid!! What a great couple a games that'll be!! Cristiano see u soon bro!!"
Emilio Butragueno, Real Madrid's director of institutional relations, said it would be a special match for Ronaldo and the two managers.
He said on uefa.com: "I am sure it will be a special game for him. He's a great professional. I'm sure he's going to do his best to help us qualify. It's going to very, very special for him.
"It will be a thrilling experience for everyone. Manchester United are not only a great team but a great organisation known around the world.
"But we know it's going to be tough. Sir Alex Ferguson has been there over 25 years and he's a fantastic manager. He knows how to get the best out of his players and they have top players, but we are Real Madrid and we will try our best.
"I know the coaches have a great relationship. We are very happy with him (Mourinho) and I hope he's going to lead the team to the Champions League to make our fans feel proud of the team."
Celtic manager Neil Lennon is delighted with his side's draw against Juventus.
He said: "Well in terms of glamour it's a beauty. Juventus are one of the great traditional European teams. They're current Italian champions and finished the group stage very strongly. So in terms of glamour it's great, in terms of qualification it is going to very tough, but it could have been any of the other teams and it would have been just as tough.
"We will take it as it comes, we're looking forward to the games now and I'm sure our supporters will be as well.
"We believe over two games anything is possible. Juventus are littered with world-class stars and have been very consistent over the last 18 months and have got a great winning mentality, but so have we.
"To come through the group as impressively as we did, you just never know where you'll be in a month or two's time in terms of fitness and form."
Arsenal will not be so happy with their draw against Bayern Munich. The two teams last met in 2005 when the Germans progressed 3-2 on aggregate.
In contrast, Bayern appear happy, with chairman Karl-Heinz Rummenigge in optimistic mood.
"I think we enter this match as the slight favourites, but we can be making the mistake of underestimating them," he told uefa.com.
"Arsenal have struggled at times in the league over the last few months, which a look upon the standings in the Premier League will tell you. But by no means will this be an easy game for us. I look forward to our game in London and back home in Munich.
"We want to set the foundations with a good performance in London, that would make things easier for us in our home game.
"I wouldn't call this a lucky draw, but one that we can overcome. I look forward to seeing my old friend Arsene Wenger and I hope that we can reach the next round."
AC Milan sporting director Umberto Gandini told uefa.com about his side's draw with Barcelona: "Last season we faced them twice (the group stage and quarter-finals), this time only once fortunately. We are now used to playing in Catalonia.
"We are improving and I'm sure we will continue to do so until February.
"We face a perfect machine even if they had more problems than usual this season in the group stage. Let's just hope we will qualify this time around.
"This is the highest hurdle we could face but if we manage to pass it we can go all the way."
Follow the reaction to the draw here.
Galatasaray v Schalke 04
Celtic v Juventus
Arsenal v Bayern Munich
Shakhtar Donetsk v Borussia Dortmund
AC Milan v Barcelona
Real Madrid v Manchester United
Valencia v PSG
Porto v Malaga
United will play the first leg at the Bernabeu on February 13 with the return at Old Trafford on March 5.
Arsenal will play a week later with the first leg at the Emirates Stadium on February 19 and the second at the Allianz Arena in Munich on March 13.
Celtic will take on Juventus at Celtic Park on February 12, with the return leg in Turin on March 6.
The rest of the first legs will take place between February 12-20 and the return games between March 5-13.
As Voltaire once said, “Ice cream is exquisite. What a pity it isn’t illegal”
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