The winners of the quarter-final replay between Everton and Sunderland will face Liverpool at Wembley.
The semi-final draw took place on Saturday evening and paired Kenny Dalglish's side with ball number four, designated to the victors of the tie between the Blues and the Black Cats.
The Merseyside clubs famously met in the fourth round of the competition in 2009. A 1-1 draw at Anfield was followed by a dramatic Toffees win in the replay.
With the scores level after 90 minutes, extra time followed and penalties drew closer until Dan Gosling fired home in the 118th minute and sent Goodison wild.
Everton are currently scheduled to travel to the Stadium of Light on Tuesday 27 March for their replay with Sunderland following the 1-1 draw between the two sides at Goodison Park.
Tim Cahill's bullet header equalised following Phil Bardsley's strike but neither side could add to their goals following the interval.
The other semi-final sees either Tottenham or Bolton square off against Chelsea.
Ties are scheduled to be played at Wembley Stadium on Saturday 14 and Sunday 15 April.