Warriors will face former Euro champions Northampton, last season's Heineken Cup finalists Ulster, and French cracks Castres as they bid to go where no Glasgow team has gone before.
The Pool 4 berth has given Glasgow a realistic chance of progression while, with two of Townsend's former clubs in Castres and Northampton providing group opposition, there is plenty of spice involved.
For his part, Townsend, who will be taking charge of his first European campaign as Warriors head coach, believes that Scotstoun will host some outstanding European ties next term.
The Glasgow head coach said: "I think it is a great draw and one that offers us a realistic chance of making our first ever sortie into the quarter-finals.
"Two of my former clubs are in our Pool. I made the semi-finals with Castres back in 2002, and I also played with Northampton.
"From a personal point of view, I know the type of support Northampton will bring to Scotsoun and Ulster as well. I would imagine we will have to erect at least one extra stand for these ties and the atmosphere should have Scotstoun rocking.
"But we are under no illusions as to how tough it will be with Ulster, last season's beaten finalists, and Northampton coming up just short a couple of seasons back.
"While Castres are reclaiming their place as one of the best teams in the French Top 14. That said, we believe we can get out of the group and if we achieve that then I don't see any reason why we can't make this a European campaign to remember."
The match-up with Castres will also see Glasgow coming face-to-face with former centre Max Evans, who is now plying his trade with the French side.
Townsend admitted that Evans will be a marked man on his return to Glasgow.
The Warriors coach said: "Everyone at Glasgow knows the type of quality Max has about him and the attacking threat he carries."