Kick-off for the game at the Emirates Stadium is 8pm.
City are looking to win the competition for the fourth-successive year - and the eighth time in the Club's history.
The game will be screened live on Sky Sports while you can also join us on the night for minute-by-minute text updates right here on ManCity.com, followed by a full-match replay on CITY+.
Full Carabao Cup draw
Tuesday 22nd December
Brentford v Newcastle United, kick-off 5.30pm
Arsenal v Manchester City, kick-off 8pm
Wednesday 23rd December
Stoke City v Tottenham Hotspur, kick-off 5.30pm
Everton v Manchester United, kick-off 20.00pm