The Champions League draw is followed by the 2014/15 Europa League semi-final draw in Nyon on 24 April.
Where to watch live
The draw starts at 11am BST. There is no live TV coverage. The draw will be streamed live on UEFA.com.
It is the year for Serie A clubs in Europe, as two teams have made it through to the semi-finals of the Europa League, with Napoli and Fiorentina joining reigning champions Sevilla and Ukrainian side Dnipro in the last four of the competition.
Napoli are clear favourites along with Sevilla going into the last four and with Champions League football on offer for the winners, it will be an added incentive for the clubs to reach the summit clash.
The first leg of the semi-finals will take place on 7 May and the return leg will take place a week later on 14 May. Just like the Champions League, the draw is open as two teams from the same association can face each other.
The teams who made it to the semi-finals of the Europa League:
- Dnipro Dnipropetrovsk