It will be the second Merseyside derby of the season, with the two sides facing each other this week in the Premier League.
The tie will be played at Anfield across the weekend of January 3rd to 6th, which is after a home game against Sheffield United (Jan 2) and before a trip to Tottenham (Jan 11).
Therefore, you can expect a heavily rotated side, as is the norm for Liverpool in domestic cup competitions, but especially after a run of 13 games in 40 days.
The Reds exited the competition at the third round last season with a 2-1 defeat away to Wolves.
Liverpool last won the FA Cup back in 2006 under Rafa Benitez.
Last season’s winners, Man City, were drawn against League Two side Port Vale.
Leicester City v Wigan Athletic
QPR v Swansea City
Fulham v Aston Villa
Chelsea v Nottingham Forest
Wolverhampton Wanderers v Manchester United
Charlton Athletic v West Bromwich Albion
Rochdale or Boston United v Newcastle United
Cardiff City v Forest Green or Carlisle
Oxford United v Exeter or Hartlepool
Sheffield United v AFC Fylde
Southampton v Huddersfield
Liverpool v Everton
Bristol City v Shrewsbury
AFC Bournemouth v Luton Town
Brighton & Hove Albion v Sheffield Wednesday
Bristol Rovers or Plymouth v Coventry or Ipswich Town
Eastleigh or Crewe Alexandra v Barnsley
Manchester City v Port Vale
Middlesbrough v Tottenham Hotspur
Reading v Blackpool
Watford v Tranmere Rovers
Preston NE v Norwich City
Millwall v Newport County
Crystal Palace v Derby County
Solihull Moors or Rotherham v Hull City
Brentford v Stoke City
Fleetwood Town v Portsmouth
Arsenal v Leeds United
Gillingham v West Ham United
Burton Albion v Northampton Town
Burnley v Peterborough
Birmingham City v Blackburn Rovers