The Champions League draw takes place this Friday and all eight sides that remain have a chance of winning Europe's elite club competition.
After Manchester United overturned a 2-0 deficit against Olympiakos, David Moyes believes his side can now win the tournament. "I suppose we'll be the underdogs in the draw, but I genuinely believe this club of is capable of doing it," The Mirror quotes Moyes as saying.
"If we show our capabilities, which we haven't done too often this season, we can be a match for any team.
Robin van Persie scored a hat-trick to give United a morale boosting victory at Old Trafford, which will now see them partner Chelsea as the remaining English sides in the last eight. However captain Patrice Evra picked up a yellow card and will now miss the first leg which takes place in April.
Chelsea progressed comfortably, outclassing Turkish champions Galatasaray 3-1 on aggregate after a convincing 2-0 win in the second leg.
Jose Mourinho is relishing the draw and admitted he doesn't mind who his side come up against in the next round.
"We wait for the draw. It doesn't matter who," Mourinho said. "All the big candidates to win the competition. Welcome to any one of them."
"It will be good for our evolution as a team to play the best."
Atletico Madrid, Barcelona, Bayern Munich, Borussia Dortmund, Paris Saint-Germain and Real Madrid are the remaining teams in the draw.
After crushing Schalke 9-2 over two legs, Real Madrid are one of the favourites to win the tournament. Cristiano Ronaldo has scored 13 in the competition this year and will be looking to add a second Champions League medal to his collection - which he won with Manchester United in 2008.
Sitting top of La Liga by three points, Carlo Ancelotti's side are full of confidence heading into the last third of the season.
Atletico Madrid brushed aside AC Milan 5-1 on aggregate while Barcelona dumped Manchester City out with a 4-1 aggregate score.
Diego Simeone has added a new dimension to Atletico, and with Diego Costa currently leading the line, they could be dark horses for the competition.
Barcelona have struggled with consistency and currently lie third in La Liga. With Lionel Messi, Neymar and Andres Iniesta, they are still a major threat going forward and could be the team to avoid. Between them, the Spanish sides have scored 222 goals in all competitions compared to Chelsea's and United's 102.
Defending champions Bayern Munich also remain in the hunt to become the first team to defend the trophy. Pep Guardiola's side defeated Arsenal 3-1 overall and Manchester United target Toni Kroos was the pick of the side. All but having sealed the Bundesliga title, the German champions will be focused on this competition as they look to make history.
Jurgen Klopp and Borussia Dortmund are also in the hat for Friday's draw. The 2013 runners-up lost to Zenit St.Petersburg 2-1 at home, but having won 4-2 in the first leg, the Black and Yellows progressed. However, striker Robert Lewandowski will be missing from the quarter-final first leg as he picked up a suspension.
Last but not least are French champions PSG. After forking out £55million on Uruguayan striker Edinson Cavani, he and strike partner Zlatan Ibrahimovic have scored 58 goals between them this campaign.
Laurent Blanc's side are eight points clear in Ligue 1 and will now look to reach the semi-finals of the Champions League for the first time.
Last season the French side were eliminated at the quarter-final stage to Barcelona, but this year could be their year, and most teams won't fancy taking them on next round including Chelsea and Manchester United.
Quarter-final ties to be played 1/2 and 8/9 April.
Write for GiveMeSport! Sign-up to the GMS Writing Academy here: http://gms.to/1a2u3KU