The German team will be favoured against the unexperienced Portuguese side, which beat Bayern in the 1987 European Cup final, after reaching the quarterfinals for the 14th time.
Porto won the 2004 trophy under coach Jose Mourinho by defeating Monaco in the final.
“The atmosphere in Porto is very heated,” Bayern goalkeeper Manuel Neuer said. “With these fans it won’t be easy for us, but we have played in many different stadiums with varying atmospheres and we will know what to expect.”
PSG will be without its main striker against Barcelona for the first leg at the Parc des Princes after Zlatan Ibrahimovic was suspended for one game following his sending off against Chelsea in the previous round.
PSG beat Barcelona 3-2 at home in the group stage but lost 3-1 at the Camp Nou. The teams also met in the quarterfinals two seasons ago, with Barcelona progressing on away goals.
Atletico and Real Madrid will be facing each other for the seventh and eighth times this season, with Real Madrid yet to register a win against its local rival. Last month, Real Madrid was handed its biggest defeat in four years as it slumped to a 4-0 loss at Atletico in the Madrid derby.
The first leg will be played at Atletico’s ground, either on April 14 or April 15, with the return game on April 21 or 22.