The Emirates Stadium outfit's youth will need to get past CSKA Moscow to face their fellow Londoners with the Blues and Villans already qualified for the semi-finalsArsenal are on course to meet Chelsea in the semi-finals of the NextGen Series after the draw for the last four was made in London.
The Blues defeated Juventus 4-1 on Sunday to book their place in the next round, while Aston Villa, the other English side still in the running, dispatched Greek side Olympiacos on Wednesday night.
The Gunners are yet to contest their quarter-final match against CSKA Moscow, which is set to take place on Monday, but will face London rivals in the Blues if they are able to progress past their Russian adversaries.
The Villans have drawn Sporting Lisbon of Portugal, who reached the semi-finals by dumping out Tottenham.
Each single-legged tie will take place on March 29 at the Stadio Giuseppe Sinigaglia in Como, with the final to be contested on April 1.