Suspensions and injuries mean that neither side are likely to have anything close to their best XI on show.
The FA Cup winners finished 6th in the Premier League and will need to win to ensure Champions League football again next season.
Sportsbooks have the shortest odds on a correct score win for Chelsea at 11/1 for a 1-0 win within the 90 minutes.
They also have Bayern Munich at 6/1 for the same outcome.
The bookies favour Munich at 7/4 to win both halves and Chelsea are 7/1 for the same.
The Bundesliga runners-up are at 7/2 to be drawing at half-time and winning at 90, as well as both halves being a draw coming in at 9/2.
If Chelsea are to win the Champions League then bookies favour them to do it within the 90 minute mark.
An extra-time victory for Roberto Di Matteo's men is is 16/1 and winning on penalties is 12/1 while winning inside 90 minutes is 15/4.
The 19.45GMT kick-off at the Allianz Arena (Bayern's home stadium) has all the makings of a classic night of European football, with both semi-finals being explosive encounters.
A 1-1 draw is 13/2 while a 2-0 win for the Munich club is 15/2.
For Chelsea stats: click here!
For Bayern Munich stats: click here!
Chelsea v Bayern Munich match preview
Live commentary from the Allianz Arena
How suspensions will affect Chelsea and Bayern