The Reds will be a seeded team for Monday's draw after winning Group B with 18 points from a possible 18.
It means they will face one of the following group runners-up:
- Paris Saint-Germain
- Sporting CP
- Inter Milan
- Benfica
- Villarreal
- Salzburg
By virtue of winning their group, Liverpool will play the first leg of their last-16 tie away and the return contest at Anfield.
First legs are scheduled to be played on February 15/16/22/23, with the second legs on March 8/9/15/16.