Sanchez scored Arsenal's equaliser in the first leg in Munich three weeks ago before the German champions progressed to a 5-1 win at the Allianz Arena.
The Chilean forward was astonishingly dropped by Wenger for the 3-1 defeat at Liverpool in the Premier League on Saturday evening, a match where he came off the bench at half-time to supply the pass for Danny Welbeck's goal at Anfield.
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Theo Walcott and Aaron Ramsey are also handed starts against Carlo Ancelotti's side following the defeat by Liverpool.
No team in the history of the Champions League has overcome a four-goal deficit with Arsenal a whopping 40/1 to make it to the quarter-finals and the visiting side 1/1000 on.
Despite their position of strength, Bayern are taking no chances, and name a strong starting line-up with Robert Lewandowski supported by Thiago Alcântara, Franck Ribery, Arjen Robben and Arturo Vidal in the forward areas.
Arsenal: Ospina, Mustafi, Koscielny, Bellerin, Monreal, Ramsey, Xhaka, Walcott, Welbeck, Alexis Sanchez..subs: Cech, Gibbs, Gabriel, Coquelin, Ozil, Perez, Giroud
Bayern Munich: Neuer, Rafinha, Martinez, Hummels, Alaba, Xabi , Vidal, Robben, Thiago, Ribéry, Lewandowski..subs: Ulreich, Costa, Bernat, Muller, Coman, Kimmich, Sanches
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