Arsenal drew Napoli in the last eight of the Europa League and should they win that will face either Villarreal or Valencia.
It means the Gunners and fellow English side Chelsea can only meet in the final in Baku on May 29.
Cech swapped Chelsea for Arsenal in 2015 but after four years at the Emirates has announced he will hang up his gloves at the end of the campaign.
He has lost his place in goal to Bernd Leno, but the 36-year-old is Unai Emery’s choice of keeper in European competition.
The Czech keeper is desperate to end a glittering career with a trophy, but knows how tough a test his former side would pose.
Arsenal overcame a 3-1 first leg deficit against Cech’s former side Rennes in the last round thanks to a 3-0 victory back in the English capital.
And now their veteran keeper is ready to take on anyone in pursuit of a 19th trophy.
“We knew before the draw we could face any team and I always say if you want to win any competition, you need to be ready to play any team,” Cech said.
“Whoever comes in our way, we would have to face them and find a way through. That’s just the way it is.
“I have already gone back to France and back to Rennes in this campaign, and Chelsea are always one of the teams who could get in the way. We will see.
“But I would love me to finish with a trophy! I am doing everything to make it happen and my team-mates are the same.
“The dream is still alive and obviously we are happy with that. We want to do it for ourselves, we want to do it for the team and as well for the fans.
“In the second leg against Rennes, we were in a difficult position and managed to find our way out. Hopefully we can continue like that.”
Chelsea drew Slavia Prague in the quarter-finals and will then have to negotiate Benfica or Frankfurt should they progress.
The Blues won this competition under Rafa Benitez in 2013 when they beat Benfica in Amsterdam.
Arsenal’s best effort was when they reached the final in 2000 when the competition was known as the UEFA Cup but lost to Galatasaray on penalties.