Per tradition, the Grimaldi Forum in Monaco will host the draw gala at 18:00 local time. The Europa League draw will then take place at the same location the following day.
The gala will also see the winners of last season's awards presented with their prizes, including Cristiano Ronaldo after his sensational overhead kick against Juventus was named UEFA Goal of the Season.
Former Real Madrid and AC Milan playmaker Kaka will help conduct the draw as the 32 team take the first steps in their attempts to strip Real Madrid of the crown they have now won 13 times.
Real Madrid's dominance of the competition, combined with Atletico Madrid's Europa League tirumph means there will be three Spanish sides in Pot One.
Barcelona join their fellow countrymen, along with Bayern Munich (GER), Manchester City (ENG), Juventus (ITA), PSG (FRA) and Lokomotiv Moscow (RUS), all of whom won their domestic leagues.
As dictated by UEFA's coefficient system, Borussia Dortmund (GER), Porto (POR), Manchester United (ENG), Shakhtar Donetsk (UKR), Napoli (ITA), Tottenham Hotspur (ENG) and Roma (ITA) will be in Pot Two, whilst Schalke 04 (GER), Lyon (FRA), Monaco (FRA) and CSKA Moscow (RUS) will be made to do with Pot Three.
Along with the winners of the final play-off, Ajax (HOL), Young Boys (SUI) and AEK de Atenas (GRE) are joined by last season's runners-up, Liverpool (ENG), Valencia (SPA), Club Brugge (BEL), Galatasaray (TUR), Inter Milan (ITA), Hoffenheim (GER) and Viktoria Plzen (CZE) in completing the list of participants.
The group stage will get underway on Tuesday September 18 and will run through until December 12. February 12 will see the start of the knock-out stages, which bring with them the possibility of a fourth substitution should ties go to extra time.
For the final, clubs will be able to name a 23-man squad, rather than the usual 18.
At the moment, the tournament will get underway without VAR, with UEFA still holding doubts about its application. Less than a month ago, Italian Roberto Rosetii replaced compatriot Pierluigi Collina as UEFA's head of refereeing.
The emotion of the draw will be matched by that felt by the players who are named among last season's top performers, with a host of Real Madrid stars in the running for awards.
The first steps towards a place in the Champions League final at the Wanda Metrpolitano on July 1, 2019 will be taken on Thursday.