Nyon, Switzerland Time: Friday 11:00 BST (Europa League), 12:00 BST (Champions League)
Liverpool will discover their Champions League semi-final opponents when the draw is made on Friday from 12:00 BST.
The Reds, who defeated Manchester City in the last eight, will face either Bayern Munich, Real Madrid or Roma.
The Europa League semi-final draw will also be made in Nyon, Switzerland, at 11:00.
Arsenal’s victory over CSKA Moscow means they will be in the draw and will face Atletico Madrid, Marseille or Red Bull Salzburg.
The Gunners, who led 4-1 from the first leg of their quarter-final, came under huge pressure in Russia as CSKA took a 2-0 lead, but goals from Danny Welbeck and Aaron Ramsey saw them through to the last four.
Victory in the Europa League is rewarded with a place in the group stage of next season’s Champions League.
Route to the last four
Group stage Top of Group E ahead of Sevilla, Spartak Moscow and Maribor
Last 16 Beat Porto 5-0 on aggregate
Quarter-finals Beat Manchester City 5-1 on aggregate
Jurgen Klopp’s side racked up 23 goals on their way to topping Group E, before smashing five past Porto in Portugal at the last-16 stage.
Their emphatic 5-1 aggregate victory over Premier League rivals Manchester City in the quarter-finals means the Reds have now scored 33 goals in the Champions League this season – the most by an English side in a single campaign.
Mohamed Salah, Roberto Firmino and Sadio Mane have contributed 23 of those goals and the pace, movement and clinical finishing of that attacking trio is likely to concern any prospective opponents.
Egypt forward Salah, who is the Premier League’s top scorer with 29, has directly influenced 50 goals in all competitions this season.
Liverpool also find themselves on a firmer footing defensively, particularly since the £75m signing of Virgil van Dijk from Southampton in January.
The Reds have kept seven clean sheets in the 14 games the Netherlands central defender has played in and they prevented City – the highest-scoring side in the Premier League – from having a shot on target during their 3-0 first-leg win at Anfield.
They lost to Sevilla in the 2016 Europa League final at the end of Klopp’s first season in charge – but this is their first semi-final in Europe’s premier competition for a decade.
A sixth European crown would leave only Real Madrid, who have lifted the trophy 12 times, and seven-time winners AC Milan ahead of them in the all-time records.
Route to the last four
Group stage Second in Group B behind PSG and ahead of Celtic and Anderlecht
Last 16 Beat Besiktas 8-1 on aggregate
Quarter-finals Beat Sevilla 2-1 on aggregate
*European football expert Andy Brassell:*
Bayern are a really, really good side who have been totally rejuvenated since Jupp Heynckes replaced Carlo Ancelotti at the start of October. The difference between the team under the two men is extraordinary – it is night and day.
He has not done anything revolutionary but before he took back over they did not have an identity or a spirit and that has all totally changed. Bayern look formidable again.
There are similarities with when Bayern last won the Champions League in 2012-13 under Heynckes. He does not shy away from friction, he embraces confrontation and uses it to get the best out of his players.
He is getting the best out of winger Franck Ribery and Mats Hummels and Jerome Boateng have played superbly together a lot in defence this season because he has moved Javi Martinez back into midfield.
Colombia international James Rodriguez – who was Ancelotti’s guy – has become more and more important under Heynckes, who has unlocked another part of his game and played him in a deep midfield position.
The fact that Bayern are geared to attack all the time should give Liverpool some counter-attack opportunities – which they are clearly particularly good at – if they are drawn together.
But although Jupp is an attacking coach he is not reckless. Away at Sevilla in the first leg, he brought in an extra defensive midfielder and dropped James to the bench. There is a circumspect side to him as well, and I imagine he will pay Liverpool that level of respect, especially at Anfield if they play each other.
Route to the last four
Group stage Second in Group H behind Tottenham and ahead of Borussia Dortmund and Apoel Nicosia
Last 16 Beat PSG 5-2 on aggregate
Quarter-finals Beat Juventus 4-3 on aggregate
*Spanish football writer Andy West:*
Real Madrid’s calamitous second-leg performance against Juventus made it clear Zinedine Zidane’s team is highly vulnerable – but really we knew that already.
This, after all, is a team fourth in La Liga, having dropped points against lesser lights including Celta Vigo, Espanyol, Girona and Levante during an extraordinarily inconsistent campaign.
You never know what you’re going to get from Real’s rich resources – and the main problem is that neither does Zidane.
Cristiano Ronaldo is the only forward guaranteed to start. Marco Asensio, Gareth Bale, Karim Benzema, Isco and Lucas Vazquez all battle for the remaining two or three places depending on which formation Zidane chooses to employ – another unknown – but none of them have presented a consistently convincing case.
That uncertainty spreads to the defence. There is a settled look in terms of personnel but they are often woefully unprotected by a flimsy midfield – as shown by Juve’s three goals at the Bernabeu on Wednesday and Barcelona’s shockingly straightforward 3-0 Clasico win in Madrid in December.
However, there is no doubting the huge amount of talent within the squad, and they also possess a fierce fighting spirit – especially in the Champions League, which Real very much regard as their competition.
And, of course, there is Ronaldo, who is in the best goalscoring form of his life after netting in 11 consecutive games.
So Real can never be written off – but they are certainly not unbeatable.
Route to the last four
Group stage Top of Group C ahead of Chelsea, Atletico Madrid and Qarabag
Last 16 Beat Shakhtar Donetsk on away goals after 2-2 aggregate draw
Quarter-finals Beat Barcelona on away goals after 4-4 aggregate draw
*New York Times chief soccer correspondent Rory Smith:*
Roma are forward thinking, modern and intelligent. They have an American owner, James Pallotta, who has tried to revamp the way they do a lot of things, both on and off the pitch.
Their social media is really good – which sounds like a stupid gauge, but it is actually quite a good barometer. It doesn’t translate to what happens on the pitch but it is a sign of a club trying to do things in a modern way, which in Italy is not always the case.
Director of football Monchi, who in a world of fake gurus is the closest thing to an actual guru and for 15 years oversaw transfer policy at Sevilla and unearthed these great gems by working out how to scout certain markets effectively, left Spain last summer and came to Roma. He has started to do the same in Italy.
The great success he has had this season is Cengiz Under, who was a winger in Turkey not on the radar of most European clubs but has turned up and been a revelation.
They have an interesting mix of veterans – such as full-back Aleksandar Kolarov and striker Edin Dzeko – and youngsters like Lorenzo Pellegrini in midfield. They are not as strong as Real Madrid or Bayern in theory – but they are a clever team.
Radja Nainggolan, Kevin Strootman and Daniele de Rossi is a high calibre, grade A midfield that not many teams will fancy facing.