The 2011 FA Cup winners drew the Owls in the Capital One Cup earlier this season with the Blues coasting home 7-0.
The teams last met in the FA Cup in 2007, drawing 1-1 at Hillsborough before City triumphed 2-1 at the Etihad Stadium. Prior to that, the teams last met in 1934 when City again won the replay 2-0 at Maine Road having drawn 2-2 in South Yorkshire.
The only other meeting also ended with a City victory after the Blues beat Wednesday 3-0 at Hyde Road.
The tie will be played on the weekend of 3/4 January 2015. We will bring you ticket news plus the date and kick-off the tie in the coming days.
The full draw:
Doncaster v Bristol City
Preston v Norwich City
Accrington or Yeovil v Manchester United
QPR v Sheffield United
Barnsley or Chester v Middlesbrough
Chelsea v Watford
Cambridge or Mansfield v Bury or Luton
Everton v West Ham
Scunthorpe or Worcester v Chesterfield
Leicester City v Newcastle United
Fulham v Wolves
Brentford v Brighton & Hove Albion
Derby County v Southport
Millwall v Bradford City
Burnley v Tottenham Hotspur
Sunderland v Leeds United
Bolton Wanderers v Wigan Athletic
Cardiff City v Colchester United
Oxford or Tranmere v Swansea City
Huddersfield Town v Reading
Rotherham United v Bournemouth
Aston Villa v Blackpool
Blyth Spartans v Birmingham City
West Brom v Gateshead
Aldershot or Rochdale v Nottingham Forest
Manchester City v Sheffield Wednesday
AFC Wimbledon v Liverpool
Dover Athletic v Crystal Palace
Charlton v Blackburn Rovers
Stoke City v Wrexham
Southampton v Ipswich
Arsenal v Hull
