The pair will lock horns for the third time at the Final stage, and for the second successive season, having both registered a 1-0 win apiece.
Nick Cushing's side booked our place in the Final for the fourth time with a 2-0 win at Chelsea, courtesy of a Nikita Parris double, while the Gunners triumphed 2-1 over Manchester United.
The tie will be played on Saturday 23 February at Bramall Lane, Sheffield, kicking off at 12:15pm.
The Blues will be looking to lift the trophy for the third time, having achieved the feat in 2014 and 2016.
Tickets are priced at £10 for adults and £1 for concessions, but ‘early bird’ tickets, priced £7.50, are available until Monday 11 February.