United were paired against the reigning champions in the draw conducted earlier on Friday, and after being provided with a tie against one of the favourites for the trophy, Moyes is content that his side still remain in the competition.
The 50-year-old told reporters: "I was thrilled that we were in that draw and in the quarter-finals of the Champions League, because after we had lost the first leg to Olympiacos, I don't think that there were too many people who were putting us through to the quarter-final draw.
"In a lot of ways, it didn't matter who we drew, but I've got to say, we've probably drawn out the favourites, and obviously the holders of the competition as well.
"It's a really tough draw, but we are looking forward to it."
The first leg of the last-eight tie will be played at Old Trafford on April 1, with the return fixture being played in Germany on April 9.