Both teams boast a host of stars with worldwide reputations, including Cristiano Ronaldo and Robin van Persie. Solksjaer, who won the Champions League with United in 1999, believes that the game will be won by one of the stars on show.
"I think the tie will be decided by a phenomenal play by someone like Robin van Persie," FootballEspana quotes the Norwegian as saying.
"They are two teams led by two coaches who are greatly respected. Cristiano will be playing against United for the first time since leaving them.
"I do not see a clear favourite. They are two fantastic teams that have great players and each a great history behind them."
Wednesday's clash will be played at the Santiago Bernebeu, with the return leg at Old Trafford on March 5.