The fourth round of the FA Cup will feature a Merseyside derby after Liverpool and Everton were the first two balls drawn out of the hat.
Anfield will host the standout tie, a week after the pair meet at the same ground in the league.
Former Everton defender Kevin Ratcliffe admitted it was not the draw the Toffees would have been hoping for.
''It's going to be a massive game,'' he told Sky Sports. ''The FA Cup is one that maybe Everton thought they could go all the way in.
''Obviously this has made it a bit harder, coming up against Liverpool. It's hard enough going up against Liverpool but when you're without your main strikers then it's going to be difficult. But anything can happen.''
The match comes in a big week for Liverpool with the league game followed by captain Steven Gerrard's court date after he was charged with assault and affray.
A second heavyweight Premier League clash sees Manchester United, who beat Southampton 3-0 today, hosting Tottenham.
The match is a repeat of last season, when United won 3-1, and boss Sir Alex Ferguson told Setanta: ''A home tie is all you can hope for, it's quite a good draw.''
Non-league Kettering were drawn at home to Fulham, while Arsenal travel to last year's beaten finalists, Cardiff.
Kettering striker Gareth Seddon, who scored in Saturday's 2-1 victory over fellow non-leaguers Eastwood Town, is eyeing a money-spinning replay.
''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.''
Cardiff chairman Peter Ridsdale is hopeful the Ninian Park crowd can help them make the headlines again.
He said: ''Clearly this is an amazing draw for us. 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.''
Nottingham Forest's reward for beating Manchester City yesterday is a trip to bitter rivals Derby - a huge game for former Rams boss Billy Davies, who takes over as Forest's manager on Monday.
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.''
Coca-Cola League One Hartlepool, who beat Premier League Stoke in round three, are happy after West Ham were handed a trip to Victoria Park.
Assistant manager Ian Butterworth said: ''It's a fantastic draw for the club. 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.''
Torquay, the other non-league side definitely through, were also drawn at home with Coventry the visitors. Manager Paul Buckle admitted it was not the dream tie he had been hoping for, but said: ''It's a good draw.
''We've proved we can beat a Championship side. Our hearts stopped when the Premier League sides came out but Coventry are a massive side so if we get Plainmoor packed, we'll have a chance.''
Blyth Spartans have the carrot of another Premier League side in the next round with a trip to Sunderland waiting if they can beat Blackburn on Monday night.
Non-league Histon, who beat Leeds in round two, could face a dream tie against holders Portsmouth at Fratton Park but the Blue Square Premier side must beat Swansea after their match was postponed yesterday while Portsmouth will try again against Bristol City.
Another team facing a replay are Chelsea, who were held by Southend at Stamford Bridge on Saturday, with the winners hosting Ipswich in round four.
Aston Villa struggled to a 2-1 win over Gillingham today and another tricky away tie is on the cards with Cheltenham or Doncaster - who beat Villa in the League Cup in 2005 - lying in wait.
The ties will be played over the weekend of January 24/25.