After a dramatic last 16, who of the remaining eight sides is most likely to go on and lift the European Cup in Paris?

After just over two months away, the Champions League returned in style, with the last 16 throwing up plenty of talking points and surprises as Europe's elite continue to battle for the greatest prize the continent has to offer.

Defending champions Chelsea remain alive and are joined in the quarter-finals by some of the best teams European football has ever seen, though Paris Saint-Germain, Juventus and Ajax all fell in the first knockout round.

So, who are the favourites to lift the trophy following the draws for the latter stages, and which teams are set for continental disappointment?

GOAL'sChampions League Power Rankings are here to lay it all out…

Getty Images8Benfica | Last time: 8th

Regardless of who Benfica drew, they were always going to be considered as outsiders for the competition, but they could barely have asked for a more difficult tie than facing Liverpool.

In Darwin Nunez, the Portuguese side possess one of Europe's most in-form attackers, but the Uruguay international will have to produce something special if his team are to make it into the final four.

AdvertisementGetty Images7Villarreal | Last time: 7th

After knocking out Juventus in emphatic fashion in the last 16, Villarreal will fear no one going forward, but a quarter-final tie with Bayern Munich will be far from straightforward.

The Europa League champions have shown they have what it takes to win knockout ties in continental competition, but it feels like taking down the Bundesliga giants might be a step too far for Unai Emery's men.

Getty Images6Atletico Madrid | Last time: 6th

Undoubtedly the weakest side in their half of the draw, Atletico Madrid will have to be at their very best to go all the way to the final, knowing they will have to beat Manchester City and either Chelsea or Real Madrid to do so.

That said, if any team can cause an upset in the competition, it is the one managed by Diego Simeone, and they will not make life easy for City in the quarter-finals as they look to complete a Manchester double in this season's competition.

Getty Images5Chelsea | Last time: 5th

Chelsea will take confidence from the fact that they beat Real Madrid in the semi-finals of last season's tournament when they face off again in this year's quarters, but there is no doubt that the circumstances are different.

Not only are Madrid a much better side now than they were then, they could yet have the advantage of getting to play their home leg in front of fans while Chelsea are forced to play behind closed doors at Stamford Bridge amid their ongoing ownership issues.

Between two closely-matched sides, that could make all the difference.