Palace travel to Arsenal next Tuesday, 23rd December (20:00 GMT) for the fourth and final tie in this season's quarter-finals.
That means, should the Eagles get through next week at the Emirates Stadium, we will face Chelsea over two legs in the New Year.
Palace would be at away at Stamford Bridge for the first leg and at home for the second leg.
The draw was made on Wednesday evening after Newcastle defeated Fulham and Manchester City beat Brentford in the last eight. Chelsea had already defeated Cardiff City on Tuesday to also progress to the last four.
Semi-Final first leg ties will take place week commencing 12th January 2026, with the second leg fixtures to be played week commencing 2nd February 2026.
Finalised dates for our semi-final ties, and ticket information will be confirmed in due course.
This season, every Carabao Cup match is being broadcast live on Sky Sports for fans in the UK. For overseas supporters, selected matches will be made available via the EFL's international broadcast partners.
Palace's quarter-final at Arsenal will be broadcast in the UK on both Sky Sports Football and ITV.