Ralf Rangnick's side had initially been drawn against Paris Saint-Germain, but a technical mistake meant that the draw had to be repeated, and Atletico came out of the hat for the 20-time English champions.
The first leg of the knockout fixture will take place at Wanda Metropolitano on February 23 before the reverse match at Old Trafford on March 15.
Cristiano Ronaldo has been in excellent form for the Red Devils this season, finding the back of the net on 13 occasions in 18 appearances, including six goals in five Champions League outings.
The Portugal international will be desperate to lead his side past Atletico in the round of 16, and it would be fair to say that he has plenty of experience when it comes to taking on the Red and Whites.
Here, Sports Mole looks at how the 36-year-old has performed against Atletico in the past.
Ronaldo has faced Atletico on 35 occasions during his professional career, boasting a record of 17 wins, nine draws and nine defeats against them, while he has scored 25 times and provided nine assists.
Only against Sevilla (27) has Ronaldo scored more goals versus a single opponent during his professional career, while he has taken on Atletico on more occasions than any other club.
The attacker won seven, drew five and lost four of his 16 La Liga meetings with the Madrid giants, scoring 12 times and providing five assists in the process.
Ronaldo also boasts a record of four wins, one draw and two defeats against Atletico in the Copa del Rey - scoring six times and providing one assist - but he failed to find the back of the net in his two Spanish Super Cup appearances against the Red and Whites during the 2014-15 campaign.
The Portuguese has also tackled Atletico on 10 occasions in the Champions League, with six of the meetings coming during his time at Real Madrid and four while at Juventus.
Ronaldo scored and provided an assist against Atletico in the 2014 final, which Real Madrid won 4-1, while he helped Los Blancos emerge victorious from their quarter-final affair in 2014-15.
The former Sporting Lisbon youngster was not on the scoresheet against Atletico in the 2016 final, at least not in normal time, but he netted the winning penalty in the shootout, which finished 6-4.
Ronaldo then scored a hat-trick against the Red and Whites in the semi-final first leg in 2016-17, before hitting a stunning treble for Juventus in the last-16 stage of the 2018-19 competition to complete an incredible turnaround for the Old Lady in the second leg of their affair.
The attacker did not score in either appearance against Atletico during the 2019-20 campaign, but he helped his side pick up a 2-2 draw at Wanda Metropolitano before playing the full 90 minutes in a 1-0 Juventus victory in the reverse fixture, with both matches coming in the group stage of the competition.
A total of seven goals and three assists in 10 Champions League appearances against Diego Simeone's side should mean that the Portuguese is full of confidence heading into the last-16 affair, while a record of 25 goals in 35 appearances against them in all competitions is a stunning return considering the quality of the reigning Spanish champions. body check tags ::