There is prize money of £40,000 up for grabs for each side who progresses into the fourth round of the competition.
The Third Round draw as performed by Town legend Kevin Beattie and former Arsenal player Sammy Nelson in London.
The ties will be played over the weekend of Saturday 5th and Sunday 6th January 2008.
Full Draw:
Preston v Scunthorpe
Port Vale/Chasetown v Cardiff
Colchester v Peterborough
Bolton v Sheffield United
Blackburn v Coventry
Brighton v Mansfield
Northampton/Walsall v Millwall
Charlton v West Brom
Watford v Crystal Palace
Luton/Nottingham Forest v Liverpool
Plymouth v Hull
Aston Villa v Manchester United
Tranmere v Hereford
Tottenham v Reading
Burnley v Arsenal
Bristol City v Middlesbrough
Fulham v Bristol Rovers
Huddersfield v Birmingham
Horsham/Swansea v Havant & Waterlooville
Sunderland v Wigan
Oxford/Southend v Dagenham & Redbridge
Everton v Oldham
Derby v Sheffield Wednesday
Southampton v Leicester
West Ham v Manchester City
Ipswich v Portsmouth
Wolves v Cambridge
Barnsley v Blackpool
Chelsea v QPR
Stoke v Newcastle
Swindon v Burton Albion/Barnet
Norwich v Bury