Holders Manchester City travel to Tottenham Hotspur, while in-form Aston Villa go to Chelsea in the fourth round of the FA Cup following the draw on Monday night.
There are still several third round ties to be decided in replays next week, but there is already two big showdowns between clubs who would have an eye on the trophy this year.
It was a much gentler draw for Manchester United, who beat Wigan Athletic 2-0 in their third round tie and now go to either Newport County or Eastleigh depending on who wins that replay.
Fulham welcome Newcastle United and Sheffield United host Brighton & Hove Albion in two other confirmed all-Premier League ties, but there could be others.
West Ham United or Bristol City will face the winner of the replay between Nottingham Forest and Blackpool, while Crystal Palace or Everton will meet Luton Town or second-tier Bolton Wanderers.
Sixth-tier Maidstone United, the lowest-ranked side left in the competition, travel to Championship high-flyers Ipswich Town.
League Two side Wrexham, owned by Hollywood actors Ryan Reynolds and Rob McElhenney, visit second-tier Blackburn Rovers.
The fourth round ties are to be played over January 27-28.
FA CUP FOURTH ROUND DRAW
Watford v Southampton
Blackburn Rovers v Wrexham
Bournemouth v Swansea City
West Bromwich Albion v Brentford/Wolverhampton Wanderers
West Ham United/Bristol City v Nottingham Forest/Blackpool
Leicester City v Hull City/Birmingham City
Sheffield Wednesday v Coventry City
Chelsea v Aston Villa
Ipswich Town v Maidstone United
Liverpool v Norwich City/Bristol Rovers
Tottenham Hotspur v Manchester City
Leeds United v Plymouth Argyle
Crystal Palace/Everton v Luton Town/Bolton Wanderers
Newport Country/Eastleigh v Manchester United
Sheffield United v Brighton & Hove Albion
Fulham v Newcastle United