Al Ittihad, who won the AFC Champions League title in 2004 and 2005, were the first team drawn out by former Al Hilal and Saudi Arabia goalkeeper Mohamed Al Deayea before tournament debutants Guangzhou were selected by ex-Manchester City and China midfielder Sun Jihai at the draw ceremony in Kualan Lumpur on Thursday.
Three-time Iranian champions Sepahan, meanwhile, will take on Saudi League runners-up Al Ahli in a re-match from the Group Stage, former finalists Adelaide United from Australia are re-united with Uzbekistan champions Bunyodkor, and K-League side Ulsan Hyundai were paired with Saudi Arabia's Al Hilal.
Last year's semi-finalists Al Ittihad, who will host the first leg of the quarter-final tie on September 19 before travelling to China two weeks later, are unbeaten in the competition this season having won Group B before recording a 3-0 win over Iran's Piroozi in their one-off tie in the Round of 16 at the end of May.
Marcello Lippi's Guangzhou edged out Japanese Emperor's Cup champions FC Tokyo 1-0 in the last 16 after dramatically winning Group H ahead of J.League champions Kashiwa Reysol.
The winner of the tie will face either three-time Iranian champions Sepahan or Saudi League runners-up Al Ahli in October's semi-finals.
Having topped Group C ahead of Al Ahli after losing just once, Sepahan downed their fellow Iranians Esteghlal from Tehran 2-0 in the last 16 to advance to the quarter-finals.
Al Ahli, meanwhile, edged out UAE Pro League side Al Jazira 4-2 on penalties following a thrilling 3-3 draw in Abu Dhabi to also progress to the last eight of the competition.
Elsewhere, familiar foes are also re-united as Adelaide face Bunyodkor in a re-match of the 2008 semi-finals after the pair were also drawn together in the Group Stage this year.
Adelaide, who won the 2008 semi-final 3-1 on aggregate before losing to Japan's Gamba Osaka in the final, opened their 2012 campaign with a 2-1 win in Tashkent before the pair shared a goalless draw at Hindmarsh Stadium.
The Reds eventually topped Group E before going on to beat Japan's Nagoya Grampus 1-0 in the last 16, while Bunyodkor edged out 2010 champions Seongnam Ilhwa Chunma by the same scoreline in Korea.
K-League side Ulsan Hyundai or Saudi Arabia's Al Hilal await in the semi-finals, with the winner of that two-legged tie in October set to host November's one-off showpiece final.
Ulsan, who finished as K-League runners-up in 2011, won Group F with an unbeaten record ahead of FC Tokyo before edging out Japan's Kashiwa Reysol 3-2 in the Round of 16 last month.
Al Hilal, meanwhile, posted the most impressive win in the Round of 16 as Korean striker Yoo Byung-soo scored four goals in a 7-1 win over UAE Pro League side Baniyas after the 2010 semi-finalists had won Group D ahead of Piroozi.
Quarter-Final Line-Ups (First Legs on 19/09/12, Second Legs on 02/10/12 & 03/10/12)
Al Ittihad (KSA) vs Guangzhou Evergrande (CHN)
Sepahan (IRN) vs Al Ahli (KSA)
Adelaide United (AUS) vs Bunyodkor (UZB)
Ulsan Hyundai (KOR) vs Al Hilal (KSA)