Three-time winners City will face Chelsea at 14:30 (UK time) on Sunday 15 May in the season's showpiece finale at Wembley Stadium. The game will be shown live on BBC One.
The two teams will face-off for the fifth time this season, having locked horns in March's Continental Cup Final, as well as in the 2020/21 FA Cup semi-finals and with both league fixtures.
This fixture will mark the seventh meeting of the sides in FA Cup competition but the first at the Final stage.
City reached the last two, having defeated Nottingham Forest, Manchester United, Everton and West Ham, scoring an astonishing 20 goals and conceding just twice.
Emma Hayes' Chelsea eliminated Aston Villa, Leicester, Birmingham and Arsenal, and netted 17 goals themselves.
Both teams have won the trophy on three occasions. Chelsea are the current holders, while Taylor's side last wrote our name onto the silverware in 2020.
Ticket information will be announced in due course.