The Reds will take on PSG at the Parc des Princes Stadium in their first-leg quarter-final, just a few days after a humbling 4-0 elimination from the FA Cup quarters against Manchester City.
Dutch manager Arne Slot has also seen his team lose the League Cup final against the same Man City while also dismally failing to defend their Premier League title, where they lie in fifth position.
However, Slot believes the Champions League could provide the silver lining to an underwhelming season and is fully focused on the upcoming challenge against the Parisiens.
"We can never take a quarter-final of the Champions League for granted," said Slot at the pre-match conference.
"Let alone if you face the champions of Europe that fully deserved to win the Champions League last season and again this season are doing very, very, very well.
"So, I don't look at that much of where we are in the season. I just look at the challenge itself and a nice one because, in football, it's sometimes also nice to get a second chance [to win a title]. In life, in general, it's nice to get a second chance."
The two sides have met on six previous occasions, with both teams winning three matches each in regulation time, but PSG won last season's UEFA Champions League tie on penalties before going on to win the title.
Barcelona wingback Joao Cancelo has urged his side to 'control' the first leg UEFA Champions League quarterfinal against Atletico Madrid at the Spotify Camp Nou on Wednesday.
Bayern Munich were not overawed by the Bernabeu as they all but ended Real Madrid's Champions League hopes with a 2-1 away victory against the defending champions on Tuesday night.
David Raya has insisted Arsenal must embrace the moment as they prepare to face Sporting CP in Lisbon in the first leg of their UEFA Champions League quarter-final clash tonight.
Ronald Araujo handed FC Barcelona a timely lift on Monday after returning to full training ahead of their crucial Champions League clash with Atletico Madrid on Wednesday.
