Arsenal, Manchester City, Glasgow City and Hibernian will learn their Women's Champions League last-32 opponents when the draw is made on Friday [12:30 BST].
Women's Super League champions Arsenal are back in the competition for the first time since 2013-14.
Hibernian pipped Welsh side Cardiff Met in qualifying, joining Scottish champions Glasgow City and England's top two clubs in the knockout stages.
French side Lyon have won the European title in each of the past four seasons.
Last-32 ties will be played over two legs in September, with the first legs on 11-12 September and the second legs on 25-26 September.
Lyon - whose squad contains England quartet Lucy Bronze, Nikita Parris, Alex Greenwood and Izzy Christiansen - are the favourites to lift the trophy again at this season's final in Vienna, Austria on 24 May 2020.
Arsenal and Hibs are both unseeded for Friday's draw and fans will hope their side avoid a tie against one of the stronger seeded sides, including the holders and last season's beaten finalists, Barcelona.
The Gunners are the only British women's club side to have won a major European title, lifting the title in 2007 as they secured a quadruple of trophies.
Chelsea reached last season's semi-finals in Europe but their third-place finish in the WSL last term saw them miss out on qualification for this campaign.