Head Coach Sean Holley says that 2010/11 tournament is set to be "another great competition" after the draw set up some big challenges for the Ospreys.
Speaking immediately after today's draw in Cardiff, Holley said:
"We are used to tough draws after our experiences of the last couple of seasons so the strength of this group comes as no surprise to us. It is European rugby's elite tournament and you have to be prepared to roll up your sleeves and face some big challenges.
"This year saw our group featuring the sides who went on to become French, English and Celtic Champions plus the Italian runners up and it was a similar story the year before. We have managed to make the quarter finals for the last three years and we'll be aiming to do the same next season.
"Toulon were always going to be the wildcard but the Blues showed this year that despite their star studded squad they are beatable. They have huge resources though and I've no doubt that they will be even stronger next season. London Irish are a very good side, well coached and full of potential. In beating Leinster away this year and reaching the semi finals in 2008 where they lost narrowly to Toulouse, they have shown their capability on this stage.
"Munster are a European heavyweight and it will be good to have the big crowds and big occasions associated with the tradition they have. It's a nice change not to get drawn with Leicester but as a second tier seed we were always going to be draw against former winners or finalists.
"We'll take great confidence from our Pool form this year, only losing once, as well as our performance against runners-up Biarritz and the way we ended the season in the Magners League. While we will look at the list of teams in the tournament looking at who we would prefer to be drawn with, I'd like to think that not many will have wanted to draw the Ospreys either, so everyone now has to get on and prepare for what will be another great competition."