Olympiakos will begin their European Champions League campaign with a home tie against German giants Bayern Munich on Wednesday 16 September.
The Greek Champions were drawn into Group F, alongside Bayern, English Premier League club Arsenal and Croatian champions Dinamo Zagreb.
Olympiakos have only ever met Bayern once in Europea competition in the 1980/81 European Champion Clubs’ Cup first round, a 4-2 triumph in Piraeus setting up Bayern’s 7-2 aggregate success.
Arsenal and Olympiakos are in the same group for the fourth time in seven seasons, having also been drawn together in 2009/10, 2011/12 and 2012/13. Each of the six preceding games has been won by the home team. This will be the third time that the final game of the group stages will be Olympiakos versus Arsenal in Piraeus.
Dinamo and Olympiakos have faced off in two previous ties, each winning one. Dinamo overturned a 3-1 away defeat in the 1977/78 UEFA Cup first round courtesy of a 5-1 second-leg triumph and then Olympiakos took belated revenge in the 1998/99 UEFA Champions League group stage, collecting four points with a 2-0 home victory and 1-1 away draw.
Olympiakos defender Dimitris Siovas says the draw is a difficult one but Olympiakos can be the surprise package.
“We were drawn into a tough group, but we have proved in the past that we can respond to challenges. We are strong at home and we will try to make the most of it – that will be key. We have beaten Arsenal before and that is why we can dream of progress – we can snatch second place from them,” Siovas said after the draw.