The Gunners booked their place in the final four with a nervy 6-3 aggregate win over CSKA Moscow on Thursday evening, drawing 2-2 on the night.
Victory in the competition represents Arsenal's only serious chance of qualifying for the Champions League next season, with the north London club sitting in sixth place in the Premier League.
The ties are to be played on April 26 and May 3.
EUROPA LEAGE SEMI-FINAL FULL DRAW HERE:
Olympique Marseille v FC Red Bull Salzburg
Arsenal v Atletico Madrid