The game will kick off at 20:00 (UK) and viewers in the UK can watch live on ITV.
City made it safely through to Round Four after beating Chelsea 4-0 last weekend at the Etihad.
Arsenal were 3-0 winners away at Oxford in their Third Round match.
City v Arsenal: Ticket information
MAN CITY APP
As always, we will have full coverage of all the fixtures right here on ManCity.com and the official Man City app.
Live text updates will begin two hours prior to kick off in our Matchday Centre – and our Matchday Live show will start 60 minutes later just as the teams are being announced.
CITY+ subscribers will be able to watch full 90-minute replays on midnight of the day of the games and highlights will be available for free at midday the following day.
CITY+ AND RECAST
You can watch exclusive City content on CITY+ and Recast.
Available for just £2.99 per month across all our digital platforms, a CITY+ subscription provides supporters with unrivalled access to new and exclusive City content.
It will allow you to watch full-match replays of all Men's and Women's matches, selected broadcasts of Women's, Elite Development Squad and Academy matches and provides access to the full catalogue of City Studios documentaries.
The official Man City Recast channel offers fans flexible, pay-per-view live fixtures and on demand viewing options including match action from across the years, legend interviews, Best of Series, Man City Esports and City Studios documentaries.