City claimed their fourth-straight Carabao Cup crown last term with Aymeric Laporte scoring a late winner against Tottenham at Wembley.
Pep Guardiola and his team had been hoping to make it five-in-a-row but were defeated by West Ham in the fourth round.
The semi-finals saw Arsenal dumped out by Liverpool while Chelsea saw off Spurs.
Now the Premier League big guns will battle it out for the first trophy of the season.
Chelsea last won the EFL Cup in 2015 when they saw off Spurs 2-0 while Liverpool won it in 2012, beating Cardiff on penalties.
These two clashed in the 2005 final at the Millennium Stadium in Cardiff and Mateja Kezman scored an extra-time winner to help Chelsea to glory.
Thomas Tuchel and Jurgen Klopp have never won this competition and will be eager to lead their sides to victory at Wembley.
Carabao Cup final to kick off at Wembley at 4.30pm
talkSPORT has full coverage with commentary coming from Jim Proudfoot, Ally McCoist and Andy Townsend
TEAMS: To be confirmed
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