Saracens have won the Champions Cup three times
Saracens will aim to get revenge for their record European defeat when they return to Bordeaux Begles in the Investec Champions Cup last 16.
The Premiership champions were thrashed 55-15 by Bordeaux in their third pool game.
Northampton Saints also face Munster again, with an all Premiership fixture as Exeter Chiefs host Bath.
Harlequins host Glasgow Warriors while Leicester must travel to last year’s runners-up Leinster.
The Irish province finished their pool stage with a bonus-point win over the Tigers, while the Saints narrowly defeated Munster at Thomond Park with 14 men.
Defending champions La Rochelle sealed their spot in the knockouts on Sunday following a convincing victory over Sale in Manchester; they will travel to South Africa to play the Stormers.
This is another repeat fixture as the sides met in the second round, with the Stormers winning thanks to an injury-time Manie Libbok conversion.
There is also an all-French match-up as top seed Toulouse host Racing 92 after victory over Cardiff for the Paris outfit seized a spot in the last 16.
South African side Bulls, who beat Bordeaux and Saracens in the pool stages, host Lyon – who beat them 29-28 in round two.
Last-16 fixtures
Toulouse v Racing 92
Exeter Chiefs v Bath
Leinster v Leicester Tigers
Northampton v Munster
Bordeaux Begles v Saracens
Harlequins v Glasgow Warriors
Bulls v Lyon
Stormers in La Rochelle
Potential quarter-finals
The quarter-finals could see last year’s finalists La Rochelle and Leinster meet again, if both sides come through their last-16 fixtures.
The winner of Toulouse and Racing will face the winner of Exeter against Bath.
Harlequins, who would have home advantage with victory over Glasgow, would play the winner of Saracens’ rematch in Bordeaux.
Finally, the winner of Northampton against Munster would face the winner of Bulls v Lyon.
Sale, Ulster, Connacht and Bayonne drop into Challenge Cup
Sale’s defeat against La Rochelle means they drop into the Challenge Cup. Irish provinces Ulster and Connacht also go into the second tier after finishing fifth in their pool. Despite victory over Exeter in their final pool game, Champions Cup debutants Bayonne also fall into the Challenge Cup.
Bristol, Cardiff, Toulon and Stade out of Europe
After finishing bottom of their respective pools Bristol Bears, Cardiff, Toulon and Stade Francais are all out of Europe completely until next season.
Key dates
Last 16 – 5/6/7 April
Quarter-finals – 12/13/14 April
Semi-finals – 3/4/5 May
Final – 25 May