There have been some spectacular ties thus far, with some astonishing upsets and sensational turnarounds occurring.
Early favourites Real Madrid and Juventus were knocked out by dark horses Ajax in the last 16 stage and quarter-finals respectively, while Tottenham then managed to overcome the Eredivisie champions to book their slot in the final two.
Meanwhile, Liverpool overcame the steepest of odds to knock Barcelona out 4-3 on aggregate, after losing the first away leg of the semi-finals 3-0. They return to the Champions League for the second successive season after losing out on last year's final in Kiev to Real Madrid.
Goal brings you all the details of the favourites , underdogs and outsiders for the Champions League.
Favourites to win the 2018-19 Champions League
Liverpool were never considered particularly strong favourites to win the competition outright, with the likes of Paris Saint-Germain, Juventus, Man City and Barcelona thought to have been frontrunners, but they truly made their case when they eliminated the La Liga giant 4-3 in the semi-finals on home soil.
The Reds barely made it out of a 'Group of Death' that consisted of PSG and Napoli only to knock out Bayern in the round of 16, but even then weren't given great odds to win the competition outright.
Jurgen Klopp's side cruised past Porto 6-1 on aggregate to set up a tie against Barcelona, and things looked bleak for the Merseysiders when they lost the first leg 3-0 away at the Camp Nou. They managed to defy expectation, however, with a 4-0 return leg win at Anfield, therefore booting the Catalan giants out of the European competition – seen as overwhelming favourites at the start of the tournament to win it all – to book their place in the Champions League final for the second year in a row.
They are now 6/11 favourites according to bet365 to win the Champions League this season ahead of Tottenham, though relatively speaking, both teams were never considered 'favourites' at the start of the competition. The Reds' Premier League form, however, has been far superior than the North Londoners', and they managed to beat Spurs in both of their domestic meetings, making them considerable favourites against their Premier League rivals.
Though Klopp's men finished 26 points ahead of Tottenham in the league, circumstances change entirely for a final – and Spurs could very well cause another upset to put a dent to the Reds' quest for a fifth Champions League trophy.
2018-19 Champions League outsiders & underdogs
Tottenham were never expected to make it very far in the Champions League, but their elimination of Man City in the quarter-finals saw their odds of winning the whole competition improve. Against Liverpool, they are valued as underdogs once again.
Mauricio Pochettino's men changed the course of the entire competition when they managed to see off Guardiola's side in an incredible 4-4 aggregate victory, including a 4-3 return leg at the Etihad that saw them progress to the semi-finals based on goal difference.
The quarter-final tie between the two Premier League sides had everything – VAR controversy, disallowed goals, free-scoring mayhem – and if Tottenham have anything, it's heart and willpower, which could potentially lead to them clinching full European glory in June.
They managed to defy expectation once again when they overturned a 1-0 first-leg defeat in the semi-finals to Ajax to win the tie 3-3 on aggregate, going through on away goals, and are now 12/7 to lift the trophy.
Lilywhites hero Lucas Moura scored a hat-trick in the second leg and netted in extra-time to clinch the victory for the North Londoners, breaking the hearts of the Dutch side at the death. This year's European competition has been one of the most thrilling and captivating in history, and Tottenham have every chance of lifting their first ever European trophy when they meet Liverpool in Madrid.