Following their impressive FA Cup quarter-final victory over Manchester United, Wolves have been drawn against Watford in the semi-final.
The second semi sees 1/3 favourites Manchester City, drawn as the home side at Wembley, take on Brighton.
Chris Hughton's side face quadruple-chasing City after fighting back from two goals down at Millwall to win on penalties to book their place in the last four for the first time since 1983.
Despite being underdogs for the semi-final, the Seagulls may take heart from the fact that their march to the final 36 years ago included a 4-0 victory over the Manchester club in the fourth round.
Wolves were the story of the quarters thanks to their 2-1 victory over Manchester United and as they enter their first semi-final since 1998 they are 4/1 to win the tournament for a fifth time in their history.
Watford, who were runners-up in this competition in 1984, are 10/1 to lift the famous trophy.
The fixtures will be played at Wembley on the weekend of April 6/7.
FA Cup winner (odds via Sky Bet)
- Manchester City - 1/3
- Wolves - 4/1
- Watford - 10/1
- Brighton - 16/1