Bayern Munich have narrowly edged out Liverpool as the favourites to win this season's Champions League, according to FiveThirtyEight.
Europe's top-tier club competition returns in two weeks with the first leg of the round-of-16 ties.
And FiveThirtyEight has revealed the round-by-round probabilities for each team remaining in the competition.
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Bayern Munich, who face Chelsea in the next round, hold the highest percentage of winning the final of the Champions League.
The German club have a 77 per cent chance of making it to the quarter-finals, 53 per cent for the semi-finals and 21 per cent in winning the final.
Liverpool, who hold a whopping 22-point lead over Manchester City in the Premier League, are second in FiveThirtyEight's standings.
The Champions League holders have a better chance of making it to the quarter-finals over Bayern Munich with their 79 per cent probability.
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Liverpool have a 54 per cent chance of making it to the semi-finals and a 20 per cent chance of winning the competition for a second consecutive year.
City came third with a 16 per cent chance of winning the competition and Paris Saint-Germain came fourth with 11 per cent.
Barcelona are ahead of fierce rivals Real Madrid in FiveThirtyEight's standings, but they only hold an eight per cent likelihood of winning the final.
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Liverpool, who beat Spurs in last year's final, will continue their Champions League defence on 18th February when they travel away to Atletico Madrid.
Meanwhile, Bayern Munich return to Champions League action on 25th February with their trip to Stamford Bridge.
PSG face a tough test with an away trip to Borussia Dortmund, while City will clash with Los Blancos at the Santiago Bernabeu.
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Barcelona will head to the San Paolo for their round-of-16 clash with Napoli.
The final for this year's Champions League will be held at the Ataturk Olympic Stadium in Istanbul.
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