Celtic and Rangers will meet in the semi-finals of the Scottish Cup, while city rivals Hearts and Hibernian also go head-to-head at Hampden.
It is the first time the Glasgow and Edinburgh clubs have all made it this far together in the history of the tournament.
The ties will be played on the weekend of 16/17 April.
Celtic boss Ange Postecoglou predicted “a cracking game” after his side beat Dundee United at Tannadice.
“The semi-final was the prize on offer and it would be massive irrespective of who you’re playing,” he told BBC Radio Scotland.
Hibs and Hearts have failed to score in two Premiership meetings this season, while Celtic and Rangers have a home win apiece on league duty.
Celtic, with a record 40 wins in the competition, are aiming for a seventh success since 2011, while Rangers last lifted the trophy in 2009.
Hearts crushed Hibs 5-1 in the 2012 final and Hibs ended their 114-year wait to be reacquainted with the cup in 2016.
Hibs were beaten finalists last year as St Johnstone completed a remarkable cup double.