He said: "It is a fantastic draw and we will go to Barcelona with the respect for them that they deserve but the main thing is we will not fear them.
"Jose may have a preference for the Premiership but that is his opinion. We are still in all competitions and there is no reason why we should not try to win them."
Arsenal's clash with Bayern throws up the intriguing prospect of a head-on clash between German goalkeeping rivals Oliver Kahn and Jens Lehmann, who is currently fighting to regain his place in the Gunners' first team.
Arsenal vice-chairman David Dein said: "It's a tough draw as you would expect at this stage of the season."
The draw
Real Madrid v Juventus Porto v Inter Milan Barcelona v Chelsea Werder Bremen v Lyon Liverpool v Bayer Leverkusen PSV Eindhoven v Monaco Man Utd v AC Milan Bayern Muncih v Arsenal
