Walcott said: "You need to fear every single team because the Champions League is one of the best tournaments around.
"They are all going to be difficult games, so it does not really matter who we get - bring it on."
He also said: "We have got a lot of players coming back towards the end of the season.
"We seem to have had our bad spell. Now hopefully we can have a good spell and push for those Champions League spots."