Bangladesh Time: Guardiola led Barca to unprecedented success during his four-year stint as manager, which included three La Liga titles and two Champions League crowns.
Despite having achieved huge domestic success since taking over at Bayern in June 2013, he is yet to replicate this in European competition and his former side will be keen to avenge the 7-0 aggregate loss to the Germans at this stage of the competition in 2013.
The other semi-final sees Juventus take on Real Madrid in a re-run of the 1998 final.
Real ended a 32-year wait for European football's biggest prize that night at the Amsterdam Arena 17 years ago, with Predrag Mijatovic netting in a 1-0 victory.
Juventus have the best record of all the semi-finalists, reaching the final on seven of their 10 appearances in the last four, although this is the first time they have reached this stage of the competition since 2003, when a Pavel Nedved-inspired side won 4-3 on aggregate against Real.
The current Real side, who are looking to create history by becoming the first team to retain the Champions League, would need to overcome Juve's formidable home record.
The Italians have lost only once at home in all competitions this season and could provide a significant threat to ending Real's chances of back-to-back European titles.
Friday's draw at UEFA's headquarters in Nyon also leaves open the possibility of a first ever Barcelona v Real Madrid final.
Barcelona still head Sky Bet’s Champions League outright market at 15/8 despite being handed what is considered an unfavourable draw, with Bayern Munich previously second in the market.
Guardiola’s men have drifted out from 15/8 to 5/2, while Real Madrid have leapfrogged them into second favourites, coming in from 3/1 to 11/5 after being paired with 8/1 outsiders Juventus.
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