Leicester could have faced Bayern Munich, Real Madrid, Sevilla, Bayer Leverkusen, Benfica or Porto, but drew Sevilla in the last 16 of the Champions League.
Ranieri's sideare new to the Champions League, but the 'Ranieri effect' seems to have worn off and they haven't enjoyed the same success of last year, when they ended up lifting the Premier League, and find themselves in 14th place in the current campaign.
The Foxes enjoyed a successful group stage, losing just one game. Leicester won four of their first five Champions League games before being thrashed 5-0 away at Porto. However, Leicester had already won their group and Ranieri made wholesale changes for the game.
In fact, Leicester became just the fifth club in history to win their first three games in the group stage, after AC Milan, PSG, Juventus and Malaga.
Riyad Mahrez is the Foxes' top scorer in the competition this season and Leicester fans will be praying that he's still with the club come February.
Meanwhile, Sevilla could have faced Arsenal, Borussia Dortmund, Monaco, Napoli or Leicester.
The Andalousian side won the Europa League last season and their best performance in the European Cup came in 1958, when they reached the quarter-finals.
Jorge Sampaoli's side experienced mixed success in the group stages, winning three, drawing two and losing one match, a 3-1 home defeat to Juventus.
Ben Yedder has been the standout performer and top goalscorer for the Spanish side in Europe this season.
Leicester and Sevilla will go head-to-head at the Sanchez Pizjuan on 22 February, before playing the return leg at the King Power on 14 March.