The French champions were the side with the highest coefficient (97,183 points) that the Blues, who topped group G, can draw in Switzerland.
PSG, who have former Chelsea player David Luiz among their ranks, finished runners-up to Barcelona in Group F.
They are followed by Bayer Leverkusen on 85,254 points, Shakhtar Donetsk (84,333), Basel (83, 835 and Juventus (80468).
Real Madrid, who drew Schalke, had the highest UEFA coefficient of any of the clubs Manchester City and Arsenal could have drawn.
City drew Barcelona (145,514 points) while the Gunners were paired with Monaco, who have just 27,183 coefficient points - less than Juventus.