The Foxes have suffered a tough run of form lately, without a Premier League win in five, but earned a small reprieve in their last European outing.
Leicester beat Danish outfit Randers 7-2 in their play-off clash to join the likes of Roma, Feyenoord, PSV Eindhoven and Marseille in the next round.
But Celtic have crashed out following a 5-1 home defeat to Bodo/Glimt.
Here's all you need to know about the upcoming round of 16 draw…
Europa Conference League last 16 draw: Date and live stream
The last 16 draw ceremony will take place on Friday, February 25 in Nyon, Switzerland.
It is expected to get under way around 12pm UK time.
talkSPORT will have full coverage of the draw.
UEFA will be showing it on their website, while BT Sport 1 will also be broadcasting the draw live from 11am.
BT Sport customers can live stream this via the app using their mobile, tablet or computer devices.
Europa Conference League last 16 draw: How it works
The eight Europa Conference League group winners are seeded and will face the eight winners from the play-off round.
They also have the added advantage of playing the second game at home.
Clubs from the same nation can't be drawn against each other.
The first legs will be played on March 10 and the return ties will be played on March 17.
Europa Conference League last 16 draw: Seeded teams
AZ Alkmaar (NED)
Basel (SUI)
Copenhagen (DEN)
Feyenoord (NED)
Gent (BEL)
LASK (AUT)
Rennes (FRA)
Roma (ITA)
Europa Conference League last 16 draw: Seeded teams: Unseeded teams
Slavia Prague (CZR)
Leicester (ENG)
Marseille (FRA)
PAOK (GRE)
PSV Eindhoven (NED)
Vitesse (NED)
Bodo/Glimt (NOR)
Partizan (SER)
Europa Conference League draw: When are the key dates?
Round of 16: Thursday, March 10 and Thursday, March 17
Quarter final/Semi-final draw: Friday, March 18
Quarter finals: Thursday, April 7 and Thursday, April 14
Semi finals: Thursday, April 28 and Thursday, May 5
Final: Wednesday, May 25 (National Arena, Tirana)