Jurgen Klopp faces off with Jose Mourinho for the third time in this Champions League campaign as Borussia Dortmund look to book a place in the final for the first time since 1997, while Real Madrid will aim to right the wrongs of last year's semi final penalty loss to Bayern Munich.
Where to watch live
Kick-off is set for 7:45pm BST, with Sky Sports 1, Sky Sports 1 HD, Sky Sports 3D, Sky Go and BBC Radio 5 Live providing live coverage in the UK.
Dortmund Have Everything To Prove
For Dortmund, the run to the semi final has been one with some tough challenges, and also moments which have become the highlights of the entire tournament. Their place in group of death left many predicting that they would struggle to qualify but defeating Real Madrid at home and drawing at the Bernabeu allowed Klopp's men the privelidge of finishing above the Spanish giants, subsequently knocking out Ajax and Manchester City.
Knock out matches against Shakhtar Donestk and Malaga appeared to present less of a challenge than those who had come before them, but Die Borussen had to deliver a miraculous escape against Spanish side to reach this staghe of the competition. Two goals in extra time handed them victory and gave the side a massive mental boost, and though they have lost the Bundesliga title to Bayern Munich, and had their star playmaker - Mario Gotze - admit this week he will be moving there in the summer, the side will be all the more desperate to repeat their heroics against Madrid. The chance to face off with their German rivals in the final, who currently have one foot in the door of Wembley after mauling Barcelona 4-0, is another added incentive.
Last weekend's result: 2-0 win over Mainz 05
Madrid Looking To Right The Wrongs Of Last Season
The loss to Bayern Munich last season was all the more painful for Madrid as it came in the crullest fashion - the dreaded penalty shoot-out. For Mourinho, a chance to gain revenage over the German giants would no doubt be a moment he would saviour. The Portuguese tactician certainly has the experience behind him to take this Madrid side further, and with this being their third semi-final in as many seasons, the squad will be desperate to make this a successful one.
Their run up until this match has been successful, though Dortmund were the thorn in their side in the group stages. A final 16 round clash with Manchester United was won under controversial circumstances, though their dominance over the English giants when Luis Nani was sent off can't be denied. And though Galatasaray put up a good fight in the second leg of the quarter final, the Spanish outfit always looked composed and the favourites to progress. A disappointing season in La Liga, in which Barcelona could win the title in Madrid lose this weekend, has meant that Mourinho has placed priority on delivering a tenth European crown. This could be Mourinho's last season in the Spanish capital, so winning a third Champions League trophy will be high on his list as he looks to make history.
Last weekend result: 3-1 win over Real Betis
For Dortmund, the team will be mostly unchanged from the weekend where they defeated Mainz. Robert Lewandowski is available for selection after recovering from a thigh knock, while Sebastian Kehl (foot) and Sven Bender (pelvis) are also likely to start despite sitting out the game at the weekend.
For Madrid, Luka Modrić (calf) and Marcelo (thigh) both picked up injuries in the side's win over Real Betis. Meanwhile, Ángel Di María is a doubt as his wife has given birth, and Arbeloa will not play through suspension. Michael Essien (muscle strain) and Fábio Coentrão (muscular problems) could both return after recovering from injury, and Alonso will return to action after serving his suspension at the weekend.
Borussia Dortmund - Weidenfeller; Piszczek, Hummels, Subotic, Schmelzer; Gundogan, Bender; Reus, Gotze, Groskreutz; Lewandowski
Real Madrid - Diego Lopez; Varane, Pepe, Ramos, Coentrao; Khedira, Alonso; Di Maria, Ozil, Ronaldo; Higuain
What They Say
Jose Mourinho: "Madrid are one of those clubs where finishing second counts for nothing. So we have to reach the final and then win that.
"All four goals we conceded against Dortmund in the group stage were mistakes by us. We hope we will not concede that many goals in the next games.
"I hope that my team, which I value tremendously as individual players as well as a team, will be able to convince on Wednesday and in the return leg.
"The team has great players who give everything they have and also deserve to win this competition. With a few exceptions, none of them have won this competition so far and I wish it for my team that they can win the Champions League, as they deserve to do so."
Jurgen Klopp (on Gotze leaving): "Fans who cannot leave their disappointment to one side should give their tickets away.
"I ask the fans to support us more than ever. It's time to show we are a special club.
"We don't know the motives as to why Bayern had to publish a story like that at this time - but we can imagine. They will not succeed in their aim to make us lose our concentration."