Holders Barcelona were drawn against Atletico Madrid in the Spanish Cup semi-finals on Friday while Celta Vigo will play Alaves in the other last-four tie.
Atletico are to host Barca in the first leg on February 1, with the second leg at the Nou Camp a week later.
The last time the clubs met in the Copa Del Rey, Barcelona won 4-2 on aggregate and went on to lift the trophy in 2015 which they successfully defended last season.
Barca beat Real Sociedad 6-2 on aggregate to advance to the last four while Atletico defeated Eibar 5-2. Celta eliminated Real Madrid 4-3, while Alaves beat Alcorcon 2-0 on aggregate.
The final will be played on May 27, with the stadium yet to be decided.