It will be the seventh time these two sides meet in the semi-finals of this competition.
Cristiano Ronaldo's Real will travel to Bayern's Allianz Arena for the first leg on April 25 as the Spanish giants go in search of a third successive European crown. Bayern will have to keep an eye out for Ronaldo who has scored seven goals in the last three games played between the two sides.
Liverpool will face Roma in the other semi as they continue their quest to win it for the first time since 2005.
The other semi-final sees six-time winners Bayern Munich take on 12-time champions Real Madrid.
The Champions League semi-finals are set.
The draws took place at the UEFA headquarter in Nyon, Switzerland while the games will kick off on Tuesday April 24 with the return clash taking place a week later on May 1.
Zinedine Zidane's men met the German side last season in the last eight which Real Madrid won with 6-3 aggregate.
"Whoever we draw on Friday, we'll look forward to the game and hopefully get to the final".
Salah has been tearing it up for the Merseysiders since making the move from Stadio Olimpico, finding the net 39 times - and has revealed his former team-mates had hoped to avoid drawing Liverpool.
Five-time champions Liverpool have been drawn against AS Roma - who upset Barcelona in the quarter-finals with a 3-0 win in the second leg.
"Everyone assumed we were done for and almost considered the second leg a futile exercise", smiled Totti on tonight's episode of television show Amici.
Bayern have won the Bundesliga at a canter, but they were not convincing in defeating Sevilla in their quarter-final tie.
The final will be played in Kiev. Liverpool is owned by Boston's boy, John Henry, so it will be fun and it will be nice to see Salah again. "It is possible. We need to be focused".
"The most difficult part is always still to come".
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