Graham Potter’s men, who headed into the World Cup break sitting eighth in the table, will head for the Etihad Stadium as the big guns enter the competition over the weekend of 6-9 January.
The Blues have made it to Wembley in each of the last three years, but have ultimately gone down to Arsenal, Leicester and Liverpool respectively.
Jurgen Klopp’s side, who beat Chelsea on penalties last season to lift the trophy for the eighth time, will also launch their defence against top-flight opposition when they welcome struggling Wolves to Anfield.
Erik ten Hag will get his first taste of world football’s oldest club competition when Manchester United host Everton, while West Ham make the short trip to Brentford and Southampton travel to Crystal Palace.
League One rivals Oxford and Sheffield Wednesday landed plum home ties when they drew Premier League leaders Arsenal and high-flying Newcastle respectively.
National League Boreham Wood’s reward for their 2-0 second round win at League One Bristol Rovers was a home tie against League One Accrington, while fifth tier leaders Wrexham make the trip to Sky Bet Championship Coventry and Chesterfield face West Brom at the Technique Stadium.
Counterparts Dagenham & Redbridge will entertain Premier League Leicester if they can beat League Two Gillingham in a second round replay, and fourth-tier Stevenage have landed a day out at top-flight Aston Villa.
Tottenham host League One’s Portsmouth, and Brighton travel to Middlesbrough in FA Cup winner Michael Carrick’s first taste of the competition as Boro boss, while Championship counterparts Cardiff host Leeds and Burnley go to Bournemouth.
Nottingham Forest and Fulham both face second tier opposition on the road in the shape of Blackpool and Hull respectively.
The draw threw up six all-Championship ties between Preston and Huddersfield, Norwich and Blackburn, Luton and Wigan, Bristol City and Swansea, Millwall and Sheffield United and Reading and Watford.