Fifteen teams have already sealed their progress to the knockout rounds, but a further 17 sides will be competing for the remaining places with all 18 games kicking off at the same time on Wednesday.
The top eight receive a bye into the last 16 while the next 16 teams enter Friday's draw for the playoffs, although PSG demonstrated last season that is no obstacle to lifting the trophy.
AFP Sport looks at what's at stake on matchday eight:
Qualified for the last 16
Arsenal, with seven wins from seven, and Bayern Munich are the only two clubs already assured of a place in the last 16. The Gunners could become the first team to win all eight games since the league phase was introduced last season. They host KairatAlmaty, who are bottom of the table with just a single point.
Bayern's lone defeat in Europe came at Arsenal in November. Vincent Kompany's side go to PSV Eindhoven in their final fixture.
Knockout place guaranteed
Real Madrid, record 15-time winners of the competition, will wrap up a last-16 berth with victory away to Jose Mourinho's Benfica. Liverpool will join them if they beat Qarabag at Anfield, while Tottenham know victory at Eintracht Frankfurt will allow them to also bypass the playoffs despite their domestic struggles.
Eight teams - those placed sixth to 13th - are locked on 13 points, with reigning champions PSG hosting Newcastle at the Parc des Princes. Chelsea currently occupy the final top-eight spot but face a tricky assignment at Napoli, coached by former Blues boss Antonio Conte.
Barcelona and Manchester City are ninth and 11th, respectively. They are poised to sneak into the top eight if any of the teams above them slip up. At least PSG or Newcastle, if not both, will drop points.
Sporting, Atletico Madrid and Atalanta are also in the mix, while Inter - who have lost three matches in a row - and Juventus sit on 12 points. All of those clubs will progress from the league phase regardless of Wednesday's results.
On course for knockouts
Borussia Dortmund are all but certain to advance alongside Galatasaray. Azerbaijan's Qarabag are on track to reach the knockouts for the first time after a last-gasp win over Eintracht last week.
Marseille, Bayer Leverkusen, Monaco, PSV, Athletic Bilbao and Olympiacos round out the top 24 as it stands, but there are seven clubs beneath them who could force their way back into contention.
Outside looking in
Italian champions Napoli are the most notable team at risk of missing out on the knockout phase. They are 25th, behind Olympiacos by virtue of fewer goals scored.
FC Copenhagen also have eight points but head to Barcelona for their final match. Benfica and Ajax, both former European champions, must win to stand a chance of qualifying. The same is true for Club Brugge, Bodo/Glimt, Pafos and Union Saint-Gilloise.
Eliminated
Debutants Kairat and Villarreal have lost six of seven matches. Slavia Prague are also yet to win, while Eintracht sacked coach Dino Toppmoller earlier this month after a poor run of results both in Germany and Europe.
