The winners of Manchester City's FA Cup third-round clash with Chelsea will face Premier League leaders Arsenal or Oxford United.
Top-flight champions City host Chelsea on Sunday, with Arsenal's bid for a record-extending 15th FA Cup success beginning with a visit to the League One U's on Monday.
Holders Liverpool, who overcame Chelsea on penalties in the 2022 final, will head to Brighton and Hove Albion if they can get past a replay with Wolves.
Manchester United host a Reading side managed by former midfielder Paul Ince, while Tottenham head to second-tier Preston North End.
Sheffield Wednesday's prize for stunning Newcastle United is a home draw against fellow League One side Fleetwood Town, while non-League high-flyers Wrexham welcome Sheffield United.
Elsewhere, West Ham head to third-tier Derby County, and struggling Southampton will take on Blackpool after the Seasiders dumped out Nottingham Forest.
Ties will be played on the weekend of 28 January.
FA Cup fourth-round draw in full:
Preston North End v Tottenham
Southampton v Blackpool
Wrexham v Sheffield United
Ipswich Town v Burnley
Manchester United v Reading
Luton Town or Wigan Athletic v Grimsby Town
Derby County v West Ham
Stoke City v Aston Villa or Stevenage
Blackburn Rovers v Forest Green Rovers or Birmingham City
Walsall v Leicester City
Sheffield Wednesday v Fleetwood Town
Manchester City or Chelsea v Oxford United or Arsenal
Bristol City or Swansea City v Chesterfield or West Brom
Brighton and Hove Albion v Liverpool or Wolves
Fulham v Sunderland
Boreham Wood or Accrington Stanley v Cardiff City or Leeds United