Holders Manchester City will face Manchester United in the Carabao Cup semi finals.
Leicester City will take on Aston Villa in the second semi final with both ties to be played over two legs in January.
Manchester United and Leicester City will be at home in the first legs.
Aston Villa spanked a second string Liverpool team 5-0 to book their place in the last four against Leicester City.
Manchester United made light work of Colchester with a comfortable 3-0 victory at Old Trafford.
Raheem Sterling scored a brace as Manchester City recorded a 3-1 victory over Oxford United, while Leicester City defeated Everton 4-2 via penalty shoot out after the regulation time ended 2-2.
Manchester United defeated Man City 2-1 in the premier league on December 7.
The last time both teams met in the competition, Manchester United won 4-3 in 2010.