The first leg will be played at the Etihad on either the 11 or 12 April with the second leg taking place at the Allianz Arena on 18 or 19 April.
And should Pep Guardiola’s men progress past Bayern, we will face either Real Madrid or Chelsea in the semi-finals which take place in May.
City have faced six-times Champions League winners Bayern on six occasions, winning three and losing three.
Our first meeting was in 2011/12, with City losing 2-0 in Germany in the group stage, before winning 2-0 in the return fixture.
In 2013/14, the teams were paired at the group stage again, with Bayern - then managed by Guardiola -winning 3-1 at the Etihad and City winning the return 3-2 at the Allianz.
In 2014/15, the teams were paired with each other for a third time in three years, with Pep’s Munich winning the first group stage match 1-0 and City winning the return 3-2 thanks to a Sergio Aguero hat-trick.
Leroy Sane will return to Manchester for the first time since departing in 2020 and Joao Cancelo is currently on loan with the Bundesliga giants.
This season, City finished the group stage phase without losing any of the six matches played against Borussia Dortmund, Sevilla, and FC Copenhagen.
The Blues then saw off German side RB Leipzig in the Round of 16, drawing the first leg 1-1 at The Red Bull Arena before an emphatic 7-0 second leg win secured an 8-1 aggregate victory.
We have scored 22 goals in the tournament so far, conceding just three.
Bayern saw off Inter Milan, Barcelona and Viktoria Plzen, winning all six games and scoring 18 goals.
They then beat PSG in the Round of 16.
Our top scorer in the competition so far is Erling Haaland with 10 goals.
This season’s final will take place at the Atatürk Olympic Stadium in Istanbul on June 10.
Full quarter-final draw:
Real Madrid v Chelsea
Benfica v Inter
Manchester City v Bayern Munich
AC Milan v Napoli
Semi-final draw:
AC Milan or Napoli v Inter or Benfica
Real Madrid or Chelsea v Manchester City or Bayern Munich
The confirmed match dates and ticket details will follow in due course.