The Eagles secured their place at this stage of the competition for the first time since 2011/12 with a 2-1 win over Aston Villa at Villa Park on Wednesday evening.
Indeed, on that occasion, Palace memorably knocked Manchester United out at Old Trafford, before being eliminated in the semi-finals.
Quarter-final matches are due to be played in the week commencing Monday 17th December.
Palace advancing to this stage of the competition also means that our away game against Brighton & Hove Albion will now be moved to Sunday, 15th December (14:00 GMT) - live on Sky Sports. The game was originally due to be played the following day.
Palace last met Arsenal in the League Cup in 1992/93, when the Gunners progressed through a two-legged semi-final.
Once again, any matches which end in a draw at this stage will go straight to penalties; extra-time is only used in the Carabao Cup from the semi-finals onwards.
This season, every Carabao Cup match is being broadcast live on Sky Sports for fans in the UK. For overseas supporters, selected matches will be made available via the EFL's international broadcast partners.