Manchester United will face LASK in the last 16 of the Europa League, while Inter shall meet LaLiga side Getafe.
Ole Gunnar Solskjaer's side, who thrashed Club Brugge 6-1 on aggregate in the last 32, will travel to Austria for the first leg before hosting the Bundesliga leaders.
In terms of UEFA coefficient, the tie will pit the lowest-ranked side left in the competition against the highest-ranked side.
Antonio Conte's Inter face a tough task in the form of Getafe, who knocked out Ajax in the previous round, while Olympiacos - fresh from defeating Arsenal in extra time - tackle another English side in Wolves.
Steven Gerrard's Rangers will take on Bayer Leverkusen, and five-time winners Sevilla play Roma.
The matches will be played across March 12 and March 19.
Europa League last-16 draw in full:
Istanbul Basaksehir v Copenhagen
Olympiacos v Wolves
Rangers v Bayer Leverkusen
Wolfsburg v Shakhtar Donetsk
Inter v Getafe
Sevilla v Roma
Eintracht Frankfurt/Salzburg v Basel
LASK v Manchester United