The UEFA Champions League group stage draw took place today in Monaco today at 16:45 GMT.
Arsenal were drawn against last years finalists Bayern Munich, Olympiakos and Zagbreb in Group F.
Olympiakos won the Greek double last season while Bayern lifted the Bundesliga title.
The Gunners made it out of the group stages last season but were knocked out against Monaco in the Last 16.
Arsenal finished the Premier league in third place last season ensuring direct entry into the Champions League group stages.
The Gunners won the FA Cup for the second consecutive year last season and lifted the Community Shield against Chelsea but Arsene Wenger will be hoping to add the Champions League to his trophy cabinet.
The Champions League has proven elusive for Wenger despite guiding the Gunners to the 2003-04 final.
Arsenal star Mesut Özil has won every cup final at the North London based side in his career so far so were the Gunners to make it all the way to the end they may have better luck this time around.