The German giants are on the verge of sealing a place in the quarter-final for the forth time in five years while the Gunners face a third successive elimination at this stage.
Arsene Wenger's side were undone at the Emirates Stadium with two first-half goals from Toni Kroos and Thomas Muller. Although Lukas Podolski got one back for the Gunners, Mario Mandzukic retained the two-goal cushion.
Arsenal need three goals to progress to the quarter-finals and Wenger feels it is not 'impossible', but Bayern's unbeaten run goes back to October which means Arsenal need a miracle to qualify. No other team in the history of the competition has comeback from such a situation.
However, Wenger is ready to sacrifice Arsenal's Champions League chances keeping in mind Saturday's clash against Swansea City and a top-four finish.
Wenger has decided to rest keeper Wojciech Szczeny due to 'mental issues' and play second choice Lukasz Fabianski. Theo Walcott and Santi Cazorla will be rested and be replaced by Alex Oxlade-Chamberlian and Francis Coquelin while Jack Wilshere misses out with an ankle problem.
Bacary Sagna is out with a knee problem and defender Per Mertasacker will be rested. Carl Jenkinson and Kieran Gibbs will feature for Arsenal.
Bayern will miss midfielder Bastian Schweinsteiger and defender Jerome Boateng through suspension and winger Frank Ribery has been ruled with an ankle problem. Fellow winger Arjen Robben is doubtful with a calf problem.
Bayern Munich (4-2-3-1): Neuer-Lahm, Van Buyten, Dante, Alaba-Javi Martínez, Luiz Gustavo-Müller, Kroos, Shaqiri-Mandžukić
Arsenal (4-2-3-1): Fabianski-Jenkinson, Koscielny, Vermaelen, Gibbs-Arteta, Ramsey-Coquelin, Podolski, Oxlade-Chamberlian-Giroud