Summary
Kondogbia opens scoring with deflected strike
Former Spurs man Berbatov finishes swift break
Oxlade-Chamberlain gives hope with long-range strike close to FT
But Ferreira-Carrasco then strikes in injury-time - after another Monaco counter attack
Get involved: What do you think of Arsenal's performance?
Live Reporting
Gary Rose
Postpublished at 19:15 Greenwich Mean Time 25 February 2015
Postpublished at 19:12 Greenwich Mean Time 25 February 2015
19:12 GMT 25 February 2015Ian Dennis
BBC Radio 5 live senior football reporter at Emirates Stadium"This is the easiest task for the English sides left in the competition though it is important to stress that since the group stages ended in December Monaco have vastly improved.
"Monaco have made four changes from the side that beat Nice in a derby game on Friday, with a highly rated left back - Layvin Kurzawa - left on the bench.
"They only conceded a goal in the group stage and for that reason the all important goal will be how early Arsenal can score to open the game out."
Postpublished at 19:10 Greenwich Mean Time 25 February 2015
19:10 GMT 25 February 2015The half-and-half scarves are ready, are you?
Get votingpublished at 19:09 Greenwich Mean Time 25 February 2015
19:09 GMT 25 February 2015Arsene Wenger says he is focused on guiding Arsenal to the Champions League quarter-finals for the first time since 2010, but can he do it?
You can vote now on the right side of this page, or for mobile and app users, click on the necessary tab. Check terms and conditions.
Postpublished at 19:08 Greenwich Mean Time 25 February 2015
19:08 GMT 25 February 2015AS Monaco share via social media, external a strikingly moody pic of tonight's Emirates:
Text us on 81111published at 19:08 Greenwich Mean Time 25 February 2015
19:08 GMT 25 February 2015Sam from Shrewsbury: How can anyone possibly think a side who have failed to beat Leicester, Hull, Stoke, Swansea and Manchester United can possibly win the Champions League?
Arlo in Uppingham: There is no doubt that the Gooners can win the Champions League. We have two or three squad members who know how to go far in Europe and with our current form and a bit of luck with the draw you have to say it is a real possibility.
There you go, folks. Two sides, nicely balanced, with BBC Sport sitting nice and impartially in the middle...
Team newspublished at 19:06 Greenwich Mean Time 25 February 2015
19:06 GMT 25 February 2015Bayer Leverkusen manager Roger Schmidt restores Germany midfielder Lars Bender to the starting eleven following Saturday's 2-2 Bundesliga draw with Augsburg. Emir Spahic comes in at the back with Turkey international Omer Toprak suspended.
Bayer Leverkusen XI: Leno, Hilbert, Spahic, Papadopoulos, Wendell, Bender, Castro, Calhanoglu, Son, Bellarabi, Drmic
Atletico Madrid manager Diego Simeone has to do without midfielder Koke after he sustained a hamstring injury in the 4-0 La Liga victory at home to rivals Real Madrid earlier this month.
Atletico Madrid XI: Moya, Juanfran, Miranda, Godin, Siqueira, Tiago, Gabi, Arda, Saul, Griezmann, Mandzukic.
There will be a separate live text commentary of this match from 19:30 GMT.
Postpublished at 19:04 Greenwich Mean Time 25 February 2015
19:04 GMT 25 February 2015Postpublished at 19:02 Greenwich Mean Time 25 February 2015
19:02 GMT 25 February 2015Former Arsenal and England centre-back Martin Keown
5 live Drive"Monaco come here with a very respectable record in this season's Champions League. I can't get this vision of Berbatov out of my head. He's gone out to pasture a little at Monaco, lying on a deckchair every day after arriving home from training in his Ferrari.
"So I'm not sure what mood he'll be in tonight, but though he's capable I don't think it's in his legs anymore, not that he was ever the quickest. But he's an old rival of Arsenal's, and he has great respect for this Arsenal team."
Old enemypublished at 19:01 Greenwich Mean Time 25 February 2015
19:01 GMT 25 February 2015The sight of the red and white shirt might provide a warm, fuzzy feeling of nostalgia for Arsene Wenger, but that might quickly evaporate if Dimitar Berbatov has his say.
The veteran striker, who starts tonight, will be a very familiar face to Arsenal fans after scoring 46 goals in a two-year spell at bitter rivals Tottenham and played in seven north-London derbies.
"Being back here is great for me, playing in this stadium," says Berbatov., external "I have had some good moments here, scored a couple of goals and also had some bad moments. It is nothing new to me. I know the games, I watch them on TV, Arsenal are playing very well."
Tune in on BBC Radio 5 livepublished at 18:59 Greenwich Mean Time 25 February 2015
18:59 GMT 25 February 2015BBC presenter Gabby Logan tweets:, external Arsenal v Monaco last 16 champions league @bbc5live 7pm - join us soon.
You can listen on BBC Radio 5 live and we will also collate the best of what is said for you here as always.
Team newspublished at 18:57 Greenwich Mean Time 25 February 2015
18:57 GMT 25 February 2015Arsenal boss Arsene Wenger changes his full-backs from Saturday's win at Crystal Palace as both Hector Bellerin and Kieran Gibbs come in for Nacho Monreal and Calum Chambers.
Francis Coquelin continues in the holding role in midfield as Mathieu Flamini is left out of the matchday squad.
As expected, ex-Tottenham striker Dimitar Berbatov will lead Monaco's attack.
Arsenal XI: Ospina, Bellerin, Mertesacker, Koscielny, Gibbs, Coquelin, Cazorla, Ozil, Sanchez, Welbeck. Giroud.
Monaco XI: Subasic, Elderson, Wallace, Abdennour, Toure, Fabinho, Moutinho, Kondogbia, Dirar, Martial, Berbatov.
BREAKING TEAM NEWSpublished at 18:56 Greenwich Mean Time 25 February 2015
18:56 GMT 25 February 2015Hector Bellerin and Kieran Gibbs start for Arsenal against Monaco. Jack Wilshere is rested as expected.
Arsenal XI: Ospina, Bellerin, Mertesacker, Koscielny, Gibbs, Coquelin, Cazorla, Sanchez, Ozil, Welbeck, Giroud
Postpublished at 18:53 Greenwich Mean Time 25 February 2015
18:53 GMT 25 February 2015Former Arsenal and England centre-back Martin Keown
5 live Drive"Arsenal do not want to concede tonight. In recent seasons they have had to play the likes of Bayern, AC Milan and Barcelona, so this is a healthy draw.
"It's quite a nostalgic affair for Arsene Wenger, who is playing against Monaco - when you think about it, there are very few former clubs he could play against.
"I think Arsenal are a side more suited to European football than a team like Manchester City. Tonight, the Gunners are strong favourites and they must relish that, enjoy it. Arsene Wenger's Arsenal have never won the Champions League - maybe this could be their year."
Join the debate at #bbcfootballpublished at 18:49 Greenwich Mean Time 25 February 2015
18:49 GMT 25 February 2015Ajujumbu Promise: People are saying Arsenal can win the Champions League this year, but we should ask if they can beat Monaco. We know what happens to the Gunners in February and March...
Ken K: We do have a fantastic squad. If everyone turns out for each matchday then we could go far...
Bobby: It's all very well Arsenal getting through the group and beating likes of Monaco. They're yet to prove they can beat the big teams.
Get in touch using #bbcfootball, external, pop on to the BBC Sport Facebook page, external or Google+ area., external You can also text us on 81111 in the UK only - don't forget to say who you are and where you are texting from.
Things change in a decade...published at 18:49 Greenwich Mean Time 25 February 2015
18:49 GMT 25 February 2015Since Monaco last made the knockout stages in 2005, Prince Albert II became the region's head of state and he married former Olympic swimmer Charlene Wittstock in 2011.
Championship previewpublished at 18:46 Greenwich Mean Time 25 February 2015
18:46 GMT 25 February 2015There is one game in the Championship tonight as Dougie Freedman looks to continue his impressive start to life as Nottingham Forest manager when they host promotion-chasing Bournemouth.
Forest are unbeaten in Freedman's four matches in charge and will fancy their chances against a Cherries side who suffered their first defeat in five games at the weekend - a 3-1 loss at Brentford.
We'll bring you regular updates on the game.
Postpublished at 18:42 Greenwich Mean Time 25 February 2015
18:42 GMT 25 February 2015Former Arsenal and England centre-back Martin Keown
BBC Sport on Focus Forum"The manager has to pick his first strongest 11, and it is the first time in a long time that I am not sure what that is. Does Gabriel come in for Per Mertesacker? There could be a changing of the guard at the back."
Postpublished at 18:42 Greenwich Mean Time 25 February 2015
18:42 GMT 25 February 2015Aaron Ramsey, absent tonight:, external Good luck to the boys tonight. Champions League nights at The Emirates are always special, will be a great atmosphere.
Team news imminentpublished at 18:42 Greenwich Mean Time 25 February 2015
18:42 GMT 25 February 2015We should have team news in the next five minutes or so. One person definitely missing out is Aaron Ramsey, who was ruled out for around three weeks after sustaining a hamstring injury in the 2-1 defeat of Leicester City on 10 February.