Madrid coach Zinedine Zidane was Ancelotti's assistant for the 2014 title, and won a Champions League of his own last May to cap his coaching debut season.
He said: "It will be a brilliant occasion for our supporters and for everyone at the club but, before the players can begin to think about these games, we have Premier League matches to come that are of huge significance to our season". There's a lot of respect between both managers.
Conspiracy theorists who allege Madrid, 11-time winners of UEFA's biggest prize, receive favourable routes to the latter stages of the competition were left with little evidence to support that claim after the defending champions were pitted against the German heavyweights.
Leicester are certainly the surprise name in this season's last eight, and Atletico director and former defender Clemente Villaverde believes they can not be underestimated.
"This will be really hard for us". That's what we've got, there's nothing we can do about that.
At home, Atleti have still been very strong overall this season. "It's not how we set up, it's the attitude that's the most important thing and the dedication we're going to put into the game".
Madrid and Bayern have combined to win 16 European titles and both now lead their national leagues.
"A very exciting, very hard lot", Tuchel said, describing Monaco as a team "with great individual talent and an outstanding coach". But we want to win the Champions League and have faith in ourselves.