Ties are to be played in the week commencing September 20 and there is arguably none more attractive than the clash between Tottenham and Arsenal at White Hart Lane.
Manchester United will begin their defence of the competition at Scunthorpe - who beat Sheffield Wednesday in the second round.
Northampton, the only League Two side surviving in the competition, were handed a dream trip to Anfield to take on Liverpool.
Villa take on Blackburn, while Newcastle face a daunting trip to London to take on free-scoring Chelsea.
Manchester City head to West Brom in another all-Premier League clash, while Stoke meet Fulham and Sunderland will have home advantage against West Ham.
Burnley, relegated from the Premier League last season, will relish their clash against top-flight neighbours Bolton, and League One Brentford have an attractive home match against Everton.
Notts County's reward for knocking out Watford is a trip to Wolves, while MK Dons - who stunned Blackpool in the second round - face more Premier League opposition with a short journey to play Birmingham at St Andrew's.
There is another north-west clash between Wigan and Preston, while elsewhere Portsmouth will tackle Leicester at Fratton Park, Peterborough face Swansea and Millwall will play Ipswich.
Brentford v Everton; Portsmouth v Leicester City; Stoke City v Fulham; Chelsea v Newcastle United; Aston Villa v Blackburn Rovers; Tottenham Hotspur v Arsenal; Millwall v Ipswich Town; Wolverhampton Wanderers v Notts County; Burnley v Bolton Wanderers; Birmingham City v MK Dons; Liverpool v Northampton Town; Scunthorpe United v Manchester United; West Bromwich Albion v Manchester City; Sunderland v West Ham United; Peterborough United v Swansea City; Wigan Athletic v Preston North End.