Yeovil Town, the lowest-ranked side left in the FA Cup, will host 12-time winners Manchester United in the fourth round.
Tottenham will also go to League Two opposition as they play Newport County.
Premier League leaders Manchester City have been drawn away to Cardiff City or Mansfield, while Nottingham Forest, who knocked out holders Arsenal on Sunday, are at Championship rivals Hull.
The fourth-round ties will be played on the weekend of 26-29 January.
Premier League champions Chelsea have the prospect of a home tie against Newcastle if they overcome Championship side Norwich in a replay that will be shown live on BBC One on 17 January.
It is the second time in three years that Manchester United, second in the Premier League, have faced Yeovil Town in the competition.
Fourth-round draw in full:
Liverpool v West Brom
Peterborough v Fleetwood/Leicester
Huddersfield v Birmingham
Notts County v Wolves/Swansea
Yeovil v Manchester United
Carlisle/Sheffield Wednesday v Stevenage/Reading
Cardiff/Mansfield v Manchester City
MK Dons v Coventry
Millwall v Rochdale
Southampton v Watford
Middlesbrough v Brighton/Crystal Palace
Bournemouth/Wigan v Shrewsbury/West Ham
Hull v Nottingham Forest
Newport County v Tottenham
Norwich/Chelsea v Newcastle
Sheffield United v Preston
More to follow.