The Magpies claimed a thrilling 4-3 success over the Barclays Premier League champions at Stamford Bridge in midweek.
Shock win: Shola Ameobi (right) celebrates after firing Newcastle to victory at Chelsea in the Carling Cup third round
Holders Manchester United, who beat Scunthorpe in the last round, are at home to Wolves.
Brentford's reward for their penalty shoot-out victory over Everton was a visit to another top-flight team, Birmingham, while Northampton, who stunned Liverpool at Anfield, were handed a trip to Ipswich.
Wigan boss Roberto Martinez welcomes former club Swansea to the DW Stadium.
The other three ties see Aston Villa host Burnley, Leicester welcome West Brom and Stoke travel to fellow Premier League strugglers West Ham.
Arsenal, who last won the League Cup back in 1993, beat north London rivals Tottenham 4-1 after extra-time at White Hart Lane in the third round.
Manchester United scrapped past Wolves in the third round last year, Danny Welbeck's goal earning Sir Alex Ferguson's side a 1-0 win after Fabio da Silva had been sent off.
Holders: Manchester United won the Carling Cup for the second successive time last season
Northampton, the only npower League Two side left in the competition, beat Liverpool on penalties after the game finished 2-2 after extra-time, having knocked out Reading on spot-kicks the previous round.
Manager Ian Sampson said: 'We'llgo to Ipswich and hopefully we can reproduce the form we've shown at Anfield and Reading.
'We've already knocked a Championship club out so we'll go to Ipswich and try and do the same thing.'
Full fourth round draw:Newcastle v Arsenal
Birmingham v Brentford
Wigan v Swansea
Aston Villa v Burnley
Leicester v West Brom
Manchester United v Wolves
West Ham v Stoke
Ipswich v Northampton
Matches to be played week commencing October 25
Liverpool forced to say sorry to fans over 'catastrophe' of losing to minnows Northampton in Carling CupWe're up for it! Tomas Rosicky targets Carling Cup for Arsenal to end trophy droughtMan United star Scholes insists winning Carling Cup is a priority for himOh Bebe! Smalling hails Manchester United new boy's Carling Cup debut