Former winners Blackpool and Peterborough United will face each other in the semi-finals of the Bristol Street Motors Trophy.
Blackpool, who lifted the trophy in 2002 and 2004, will have home advantage against Darren Ferguson's Posh - the winners 10 years ago.
The second semi-final will see Bradford City, the only League Two side left, face Wycombe at Valley Parade.
The matches will be played in the week commencing 19 February.
Blackpool knocked out holders Bolton in the quarter-finals, progressing 5-4 on penalties following a goalless draw, while Peterborough saw off AFC Wimbledon 3-1.
Bradford and Wycombe have never gone further than the semi-finals of the competition.
This year's final will take place at Wembley on Sunday, 7 April.