Uefa announces that the English official will take charge of the tie at the Santiago BernabeuReal Madrid and Borussia Dortmund.
The home side will need to produce a remarkable comeback to overturn a 4-1 first-leg defeat, meaning Webb could be in for a busy evening at the Santiago Bernabeu.
The Englishman is highly regarded in his profession, having officiated the 2010 World Cup final between Spain and the Netherlands, as well as Inter's 2-0 Champions League triumph over Bayern Munich in the same year.
That first of those games saw Madrid players Xabi Alonso, Iker Casillas and Sergio Ramos all on the winning side, with la Roja running out 1-0 winners.
Webb was criticised after the game following an incident where Alonso was infamously 'dropkicked' by Nigel de Jong, a foul that was punished with just a yellow card from the referee.
The official is also no stranger to run-ins with Real Madrid boss Jose Mourinho. Webb sent off two Chelsea players in the 2007 League Cup final and infuriated the then Blues boss when Salomon Kalou's goal was ruled offside against Blackburn in September 2007.
After the incident, Mourinho demanded a phone-call apology from Webb saying:
"I told him what I had to tell and what I told him was I am waiting for his phone call tomorrow to apologise."
The game in Madrid will be will Webb's fifth European tie this season. He has shown 15 yellows and one red in the Champions League so far this campaign.