Rafa Benitez (left) and David Moyes will meet in the fourth round
Liverpool will face Merseyside rivals Everton in the pick of the FA Cup fourth-round matches later this month.
Manchester United will host Tottenham while non-league Kettering Town will meet Premier League Fulham and giant-killers Hartlepool entertain West Ham.
There is also an east Midlands derby with Nottingham Forest being rewarded for their emphatic 3-0 win over Manchester City with a trip to Derby.
The fourth-round ties will be played over the weekend of 23/24/25 January.
Of the matches due to be broadcast on television, the Merseyside derby will be played on Sunday 25 January at 1600 GMT while Cardiff face Arsenal at 1330 the same afternoon.
Manchester United's game with Spurs is scheduled to be a 1730 kick-off on Saturday 24 January with Hartlepool v West Ham starting at 1240.
The east Midlands derby between Derby and Nottingham Forest has been rescheduled for Friday 23 January.
It will be the second time in a week Liverpool will face their Merseyside rivals. They play each other in the Premier League on Monday 19 January and face each other at Anfield in the Cup at the weekend. It will also be a busy week for captain Steven Gerrard as he make his first appearance in court on 23 January charged with assault.
For new Nottingham Forest manager Billy Davies the tie against Derby sees a return to the club he guided to promotion from the Championship two seasons ago.
He said: "I'm absolutely delighted. It's a fantastic game for the fans, a fantastic game for the club and I'm very much looking forward to it.
"I've got lots of great friends and lots of great memories at Derby. But I've moved on to the next chapter at Forest and I'm excited by that challenge."
Holders Portsmouth will face Championship Swansea.
And last season's finalists Cardiff City will host Arsenal at Ninian Park, a replay of the 1927 final between the pair which the Welsh club won 1-0.
"Clearly this is an amazing draw for us," said chairman Peter Ridsdale.
"I think in the FA Cup the glamour is all about playing the top teams, and particularly when you aspire to get promoted, you've got to pit your wits against the top teams.
"I know what can happen at Ninian Park. We've got the most passionate crowd and at home we stand a chance but let's not forget Arsenal are one of the best teams in the world."
Elsewhere, Blue Square Premier side Torquay will host Coventry following their surprise win over Blackpool.
Kettering striker Gareth Seddon is delighted that his side have drawn Premier League opposition in the shape of Fulham.
"Any Premier League side is brilliant for us, especially getting them here as well," he said.
"I think we've got a good chance; you never know, especially with the crowd behind us.
"They've got to expect a tough game and a hostile atmosphere. Maybe get a draw here, take them back to Fulham."
League One outfit Hartlepool who despatched of Premier League Stoke City in the third round get top-flight opposition again, with West Ham travelling to Victoria Park.
"It's a fantastic draw for the club," said Hartlepool assistant manager Ian Butterworth.
"We're at home, pitting our wits against a Premier League side and if the lads can produce the performance of yesterday, and the guts and character, we'll give them one hell of a game.
"The place will be full. We had to put up with the direct approach from Stoke but West Ham will play a little bit more on the deck so that will throw another challenge to us but the attitude of the players is first class so we'll be ready for them."
FA Cup fourth round draw:
Liverpool v Everton
Manchester United v Tottenham
Hull v Millwall
Sunderland v Blackburn
Hartlepool v West Ham
Sheffield United v Charlton
Cardiff v Arsenal
Portsmouth v Swansea
Chelsea v Ipswich
Doncaster v Aston Villa
West Brom v Burnley
Torquay v Coventry
Kettering v Fulham
Watford v Crystal Palace
Derby v Nottingham Forest
Wolves v Middlesbrough
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