The north London side come in at 11/1 to win the European competition - with Manchester United and Liverpool both ranked ahead of them despite being far lower than them in the Premier League table.
The odds are no doubt affected by Tottenham's draw: they face Borussia Dortmund in the last 16, rated by bookmakers as 4/1 favourites for the tournament.
While Spurs fans may not like their odds, however, Liveprool supporters will most likely take theirs with satisfaction.
Gary Neville's Valencia side are just behind Tottenham at 12/1, with a host of teams then following until Sparta Prague complete the line-up with odds as high as 33/1.
Can Tottenham, Liverpool or Manchester United triumph in Europe this season?