The Reds will face the second-tier outfit at Reading's Madejski Stadium.
Meanwhile 2008/09 FA Cup runners-up Everton, will welcome Coca-Cola League One side Carlisle to Goodison Park.
West Ham will host London rivals Arsenal in one of three all Premier League fixtures.
Gianfranco Zola's side host the Gunners, who last lifted the trophy in 2005 and have not picked up any silverware since.
The other two top-flight affairs see Aston Villa host Blackburn and Hull travel to Wigan.
Chelsea won the cup last year, under the guidance of interim coach Guus Hiddink, and his successor Carlo Ancelotti begins his attempt to match that feat with a home clash against Watford.
Non-league Kettering could be set for a dream trip to Old Trafford should they manage to negotiate their second round replay with Leeds.
One of Oxford or Barrow will definitely get the chance to claim a Premier League scalp, with the winner of their replay set for a trip to Sunderland's Stadium of Light, while Blue Square Premier outfit York will travel to Stoke.
Conference South side Staines Town, who forced a replay with Millwall at Wheatsheaf Park, have the incentive of a home tie with Derby.
The 2008 finalists Chelsea and Portsmouth have both been drawn at home against Watford and Coventry respectively.
Of the remaining Premier League clubs Manchester City will return to Middlesbrough's Riverside Stadium,
Tottenham host Peterborough, Bolton are at home to Lincoln, Fulham face Swindon, Wolves will meet either Tranmere or Aldershot and Birmingham are away to Nottingham Forest.
All matches will be played on the weekend of January 2-3.
Draw for the third round of the FA Cup >>>