The Reds, top of the Premier League, will host the Bundesliga champions on February 19 before travelling to Germany for the second-leg three weeks later.
Klopp's side, in fine form, will find Bayern uncharacteristically out of shape after a sputtering season but the Kop boss is understandably wary all the same.
"It was clear it would be difficult [and] they are obviously a top side" he told the club's official website. "For me it’s nice, going to Germany. But it’s just the draw. So we have now time to prepare the game, a lot of time obviously, and hopefully we have all our players available then.
"It will be a tough one, an interesting one, and I am looking forward to it."
Klopp has an up and down record against the Bavarian giants famously pipping them to the Bundesliga in 2010-11 and 2011-12 before Dortmund lost to their great rivals in the Champions League final the following year.
But despite the obvious familiarity he doesn't think that it will ultimately prove a deciding factor.
"I don’t know. This is a different Bayern than what I played, we are already here for three years [and] since the Audi Cup [in the summer of 2017]. We all know the stadium, the atmosphere will be great.
"It’s a really nice trip for all our supporters, it’s a wonderful city, so that’s all good. The flight is not too long and we obviously know more about German football than about any other league, that’s true, but that doesn’t make a big, massive difference.
"In the end, the boys have to decide it on the pitch. Let’s give it a try."