FA Cup holders Manchester City face a tricky trip to Tottenham Hotspur, while in-form Aston Villa have been drawn to face Chelsea at Stamford Bridge in the fourth round.
Third-placed champions City are a point above Spurs with a game in hand in the Premier League table, while Villa are flying high in second spot with Chelsea languishing 10th.
Twelve-time FA Cup winners Manchester United face a fourth-round match at either Newport County or Eastleigh after their 2-0 win at Wigan Athletic Monday.
Fulham welcome Newcastle United and Sheffield United host Brighton and Hove Albion in other all-Premier League ties, with matches scheduled to be played over the January 27-28 weekend.
League leaders Liverpool, who knocked Arsenal out in the third round, received a more favorable draw Monday.
Juergen Klopp's team will host the winners of the replay between Norwich City and Bristol Rovers.
Sixth-tier Maidstone United, the lowest-ranked side left in the competition, travel to second-tier Ipswich Town.
The winners of the replay between Crystal Palace and Everton will host either Luton Town or Bolton Wanderers.
League Two side Wrexham AFC., owned by Hollywood actors Ryan Reynolds and Rob McElhenney and who reached the fourth round last season, will visit Blackburn Rovers.
Draw
Watford v Southampton
Blackburn v Wrexham
Bournemouth v Swansea
West Brom v Brentford/Wolvers
West Ham/Bristol City v Forest/Blackpool
Leicester v Hull/Birmingham
Sheffield Wednesday v Coventry
Chelsea v Villa
Ipswich v Maidstone
Liverpool v Norwich/Bristol Rovers
Tottenham v Man City
Leeds v Plymouth
Palace/Everton v Luton/Bolton
Newport/Eastleigh v Man Utd
Sheffield Utd v Brighton
Fulham v Newcastle
Ties to be played over January 27-28 weekend