Lewis Stevenson and Laryea Kingston will face each other at Easter Road.
Edinburgh rivals Hibernian and Hearts have been drawn together at Easter Road in the fourth round of the Homecoming Scottish Cup.
Holders Rangers travel to face St Johnstone, while Celtic host another Division One club, Dundee.
Non-League sides Inverurie Loco Works and Vale of Leithen will be vying to host SPL side Motherwell.
Lochee United, the last remaining junior outfit, will be out to deny Ayr United a derby at home to Kilmarnock.
Scotland manager George Burley and Deputy First Minister Nicola Sturgeon made the draw at Hampden Park on Monday.
Third Division outfit East Stirlingshire, who produced the shock of Saturday's third-round ties by beating First Division Livingston, were rewarded with a home tie against Scottish Premier League side Dundee United.
Club representatives were at Hampden to witness the cup draw
Highland League side Forres Machanics or East of Scotland outfit Dalbeattie Star will travel to face Scottish Football League opposition in the shape of Forfar Athletic or Stranraer.
Hibs and Hearts were the only SPL sides to be drawn together.
Aberdeen travel to face the all-Second Division contest between Raith Rovers and Alloa Athletic.
St Mirren are away to either East of Scotland side Edinburgh City or Division Two side Brechin City.
Hamilton Academical also travel to face the winners of the tie between Ross County and Dumbarton.
Inverness Caledonian Thistle and Falkirk host First Division promotion hopefuls in the shape of Partick Thistle and Queen of the South respectively.
The Old Firm also play Division One opposition, with Rangers facing a potentially difficult trip to Perth to face leaders St Johnstone, while Celtic host under-achieving Dundee.
Hearts captain Christophe Berra says all the pressure will be on city rivals Hibs in their upcoming tie at Easter Road.
You have to beat the best teams to win the Scottish Cup and what better way to get into the next round than by beating our local rivals?
Hearts captain Christophe Berra
Berra insists Hibs, as the home team, will be expected to win when the sides meet in next January's cup derby.
"These matches are always one-off encounters but the pressure will be on Hibs as the home team," Berra said.
"You have to beat the best teams to win the Scottish Cup and what better way to get into the next round than by beating our local rivals?"
David Rae, chairman of last season's beaten finalists Queen of the South said his club's trip to the Falkirk Stadium will be a difficult task, but by no means insurmountable.
"We've to be realistic and say it's a difficult draw, but it's certainly a winnable game," said Rae.
"I'll tell you something, we'll go into the game against Falkirk and we can't be certain we'll win the game, but there will be no fear factor.
"We can go into it with a bit of confidence - the players who were involved in the final last year will be involved again, so I think the boys will be really up for it."
Kilmarnock's Gary Locke was thrilled at the possibility of an Ayrshire derby if Ayr United can get past Lochee United.
"At least we've avoided the Old Firm," said Locke.
"We always seem to draw them in cup competitions which is a bit unlucky, but you can't write-off Lochee yet.
"They've still to play Ayr United and they'll be looking at that and they'll know they could be playing an SPL side in the next round.
"But if it's an Ayrshire derby, everyone will be looking forward to it."
Scottish Cup fourth-round draw
Peterhead v Queen's Park
St Johnstone v Rangers
Raith Rovers or Alloa Athletic v Aberdeen
Falkirk v Queen of the South
Airdrie United v Elgin City or Spartans
Inverurie Loco Works or Vale of Leithen v Motherwell
Ross County or Dumbarton v Hamilton Academical
Forfar Athletic or Stranraer v Forres Mechanics or Dalbeattie Star
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