Anderlecht and Celtic complete the quartet and will face a battle to unseat one of their heavyweight rivals for a place in the knockout stage.
Bayern 13/2 to win Champions League
Bayern reached the quarter-finals last season, being knocked out by eventual winners Real Madrid, while PSG blew a 4-0 first-leg lead against Barcelona and exited in the last 16.
Anderlecht were knocked out in the qualifying rounds and Celtic finished bottom of a tough group containing Barcelona, Manchester City and Borussia Monchengladbach.
Matches will kick off on September 12 this year, with the group concluding on December 5.
