Gareth Taylor's side will learn our quarter-final and potential semi-final opponents at 11:00 UK (12:00 CET) on 12 February 2021.
Seven of the eight teams have been confirmed with Sparta Prague and Paris Saint-Germain yet to play their Round of 16 second leg, which takes place on Wednesday 17 March.
Here's everything you need to know about the competition and the draw, which takes place in Nyon, Switzerland...
There is no seeding or country protection from the quarter-final stage, although any limitations (such as those imposed by COVID-19 travel restrictions) will be announced in advance.
The team drawn first will play the first leg at home.
The semi-final draw will also take place with four balls prepared for the 'winners of quarter-finals.'
The draw for the Final is also conducted for administrative purposes.
Lyon (FRA holders)
Sparta Prague (CZ) or Paris Saint-Germain (FRA)
Manchester City (ENG)
City's European history
City made our Champions League debut in the 2016/17 campaign, having finished second in the FA WSL in 2015.
An incredible debut campaign saw Cushing's side reach the semi-finals, defeating Zvezda Perm (6-0 on aggregate), Brondby (2-1 agg.) and Fortuna Hjorring (2-0 agg.) before falling to the eventual competition winners Lyon (3-2 agg.)
City ended the 2016 domestic season as league and Continental Tyres Cup champions to qualify to the 2017/18 tournament. and repeated the success of the previous year, defeating St Polten (6-0 agg.), Lillestrom (7-1 agg.) and Linkoping (7-3 agg.) before once again being edged out by Lyon in the last four.
The 2018/19 would prove unsuccessful, as City fell at the first hurdle, losing to Atletico Madrid over two legs in the Round of 32, but the domestic cup double winners secured progression to our fourth successive European tournament with a top-two finish in the FA WSL.
The Spanish outfit would edge us out for the second successive season in 2019/20, as Cushing's side fell to a 3-2 aggregate defeat to the Primera División Champions at the last 16 stage, drawing 1-1 in Manchester before suffering a 2-1 reverse at the Centro Deportivo Wanda, courtesy of a Steph Houghton own-goal and a second half Angela Sosa strike.
Pauline Bremer netted a consolation late on but it would prove too little, too late, as the 2017 and 2018 semi-finalists were eliminated.
City reached the last eight with a stunning 8-0 aggregate win over Fiorentina, following a 5-1 triumph over Göteborg FC in the previous round.
Another dominant display and quickfire start kicked off a professional performance in Florence, as City cruised into the last eight for the third time in five seasons, having reached the semis in our first two attempts.
There was further cause for celebration with European debuts for Academy graduate Millie Davies and 'keeper Karima Taieb.
Champions of Europe
For Lucy, it marked a hat-trick of European successes, as she claimed her third successive medal.
Joining City in September, the pair say they hope to help City and the FA Women's Super League become dominant forces on the continent.
Quarter-final and semi-final draw: 12 March
Quarter-finals: 24/25 March & 31 March/1 April
Semi-finals: 24/25 April & 1/2 May
Final: 16 May (Gamla Ullevi, Gothenburg)