Eight remain in the hunt for Champions Cup glory and Toulouse are the 7/4 favourites to secure a record-extending sixth success in the competition.
The five-time winners came into the knockout stages as the number one seeds after winning all four of their pool matches and they lived up to the billing in their contest with Racing 92, scoring five tries in a 31-7 victory.
Their reward is a meeting with Exeter Chiefs, who progressed to this stage of the competition after seeing off fellow Premiership outfit Bath 21-15 at Sandy Park.
Exeter, who are currently sixth in England's top flight, are 50/1 to repeat their success of 2019/20.
It's Harlequins who commence this year's Champions Cup quarter-finals as they head to south-western France to face Bordeaux Begles.
Quins secured their first-ever knockout win in Europe's top-tier competition with a thrilling 28-24 victory over Glasgow Warriors but face a daunting test against formidable opposition in Bordeaux, who blew Saracens out of the park with a 45-12 triumph.
Harlequins are 6/1 to pull off a major shock across the Channel and Tabai Matson's team are 40/1 to get their hands on the trophy.
In a repeat of the last two Champions Cup finals, Leinster will be seeking revenge against defending champions La Rochelle in Dublin.
Leinster did get the better of their French opponents in a pool stage match at the start of the season but Ronan O'Gara's side displayed great resilience in the previous round to prevail in the southern hemisphere, defeating Stormers 22-21.
La Rochelle are 13/2 to win the Champions Cup for a third successive year, while Leinster are 15/8 to equal Toulouse's record tally of five and lift the trophy for the first time since 2018.
The English side with seemingly the best chance of progressing to the final four is Northampton Saints, who impressed in an exhilarating 24-14 win over Munster and will now face the Bulls at Franklin's Gardens.
The Saints are currently top of the Premiership after an emphatic 41-30 win over title rivals Saracens and they're 14/1 to win the Champions Cup ahead of their matchup with the Bulls, who are into the quarter-finals for the first time and are the only remaining South African side in the competition.