The Gunners will travel to Italy for the first leg of their Europa League last-16 tie against AC Milan on 8 March.
Arsene Wenger looks to win the trophy for the first time in his tenure, having been to the finals twice so far.
Arsenal advanced to the last 16 courtesy of a 4-2 aggregate victory but it was a night to forget for the Londoners.
Arsenal are among the favourites to make it to the latter stages of the Europa League along with Borussia Dortmund, Atletico Madrid and AC Milan.
A host of European heavyweights await the Gunners as Europe's second tier club competition reaches a crucial juncture.
Wilshere and Iwobi played in Arsenal's 2-1 loss to Ostersunds on Thursday (22 February) and are expected to be involved in the Carabao Cup final on Sunday (25 February).
Arsenal host Östersunds in the second leg of their Europa League last 32 clash with the Gunners holding a 3-0 advantage.
Arsenal manager Arsene Wenger has joked that he is happy to give resurgent midfielder Jack Wilshere a pen to sign a contract extension in north London.
Danny Welbeck will enter the final year of his contract with Arsenal at the end of the current season and is yet to be offered a new deal.
The Greece Under-21 international could have joined a myriad of clubs before eventually moving to The Emirates Stadium.
Mesut Ozil will not play in the Europa League game against Ostersunds on Thursday (22 February) owing to illness.
France boss Didier Deschamps believes Olivier Giroud made the right call in swapping Arsenal for Chelsea.
Arsene Wenger is not yet ruling Aaron Ramsey out of the Wembley clash with Manchester City, while Mesut Ozil "should be OK" after illness.
Arsene Wenger's side are in sixth place in the league, eight points adrift of fourth-placed Chelsea.
Watford midfielder Abdoulaye Doucoure claims he is attracting interest from heavyweight Premier League trio and has indicated a preference to work under Arsene Wenger.
Tyreece John-Jules has signed his first professional contract with the club after impressing for the youth sides this season.
Aaron Ramsey is unlikely to play a part in Arsenal's upcoming Carabao Cup final against Manchester City as his groin injury is taking longer than expected to heal.
Chelsea were forced to settle for a 1-1 draw against Barcelona in the first leg of the last 16 tie of the Champions League at Stamford Bridge on 20 February.
Arsenal allowed Olivier Giroud to join direct rivals Chelsea during the January transfer window after they signed Pierre-Emerick Aubameyang.
Nabil Fekir has named Arsenal as one of his three favoured clubs in England, with the other two being Manchester United and City.
Bordeaux manager Gus Poyet believes the club must prepare themselves for the likely exit of Malcom, who was reportedly courted by both Arsenal and Tottenham in January.
Guardila's move to Wigan fell through as the Spaniard eventually decided to take up an offer in Mexico.