Making their debut in Europe's elite competition, big-spending City may be handed a baptism of fire when the balls are drawn in Monaco at 5pm.
Placed in pot three because of their previous success, City could face Barcelona in the group stages.
Even if they avoid the champions, a double-header against the likes of Real Madrid, Inter Milan or Bayern Munich could await.
The other English clubs - Manchester United, Chelsea and Arsenal - are among the top seeds hoping for favourable draws for the group stages.
However, there are some tough sides lurking in the lower pots. AC Milan and Spanish duo Valencia and Villarreal are in pot two, while Ajax and German champions Borussia Dortmund are in pots three and four respectively.
UEFA rules prevent clubs from the same country being placed in the same group, but City could still find themselves up against Barcelona, Milan and Dortmund in a glamorous group.
UEFA distributed £663million in prize money and bonuses among the clubs that played in last season's group stage.
The 32 clubs in the draw are set to share at least the same amount as a three-year cycle of broadcasting and sponsorship deals ends next May after the final in Munich.
The draw is conducted at the beachside Grimaldi Forum in Monte Carlo in a lavish ceremony. Ahead of the draw, UEFA will announce the inaugural winner of its Best Player in Europe award.
Lionel Messi and Xavi of Barcelona and Real Madrid's Cristiano Ronaldo are on the three-man shortlist selected by a panel of 53 journalists. The panel, representing each of UEFA's member nations, also votes for the winner.
UEFA created the awarxd after France Football magazine combined its traditional European award with FIFA's world player prize.
Read more: http://www.dailymail.co.uk/sport/football/article-2029686/Champions-League-draw-guide-August-2011.html#ixzz1W32qlfg9
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