As well as three victories under former Arsenal manager Unai Emery, the Liga side also claimed the trophy in consecutive seasons under Juande Ramos in 2006 and 2007.
They qualified from Group A after taking 15 points and face Roma in a blockbuster last-16 tie.
Bayer Leverkusen is Germany’s best chance at the Europa League glory at 8/1 over (9.0) after dropping down from the Champions League and comfortably beating Porto within the last 32.
The Bundesliga side will face Rangers within the last-16 as they appear to win this tournament for the second time in their history.
Who are the Europa League underdogs?
The capital club was previously defeated in the final in 1991 once they went down 2-1 to Serie A rivals Inter and struggled past Gent within the round of 32, meaning their tie against Sevilla is probably going to prove even tougher.
Getafe have emerged as surprising underdogs at 16/1 (17.0) following impressive campaigns in both La Liga and therefore the Europa League.
Jose Bordalas’ men are the third in the Spanish top-flight and were runners-up in their Europa League flight, with their odds shortening thanks an impressive win over last season’s Champions League semi-finalists Ajax.
Eintracht Frankfurt also punch in at 16/1 (17.0) to win their first Europa League and second major European trophy, having also won the Cup Winners’ Cup in 1999.
Who are the Europa League outsiders?
Shakhtar Donetsk are available at 25/1 (26.0) with bet365 to win the tournament ahead of their last – 16 clash with Wolfsburg who are 33/1 (34.0).
Olympiacos are often backed at 40/1 (41.0) after stunning Arsenal within the last 32, whilst Rangers and Copenhagen are both out at 50/1 (51.0).
LASK Linz are valued at 66/1 (67.0) whilst Basel and Istanbul Basaksehir are both rank at 80/1 (81.0) outsiders.