Mikel Arteta’s side won 1-0 away in Piraeus last campaign, but were beaten 2-1 at home and ousted from the tournament at the last 32 stage.
The Gunners will be desperate for that not to happen again and they are clear favourites to progress with the bookmakers, despite their patchy form all season.
The north London outfit are tenth in the Premier League after a draw with Burnley last time out, while Olympiakos are riding high at the top of the Greek Super League table, 16 points clear of their closest rivals.
When is Olympiakos vs Arsenal?
The match kicks off at 8pm on Thursday 11 March at Stadio Georgios Karaiskaki.
Olympiakos vs Arsenal TV channel and live stream
BT Sport 2 will be showing the game live, with coverage starting at 7.30pm.
Streaming is available for subscribers on BT Sport Player and the BT Sport app.
Olympiakos vs Arsenal odds
Odds courtesy of Betfair
Olympiakos vs Arsenal head-to-head
27 Feb 2020: Arsneal 1-2 Olympiakos – Europa League
20 Feb 2020: Olympiakos 0-1 Arsenal – Europa League
09 Dec 2015: Olympiakos 0-3 Arsenal – Champions League
29 Sep 2015: Arsenal 2-3 Olypmiakos – Champions League
04 Dec 2012: Olympiakos 2-1 Arsenal – Champions League