They reached this stage after beating Blackburn Rovers on Tuesday evening, while North End saw off Mansfield Town.
It will be the fourth time the two sides have met in the competition following Morecambe’s promotion to the Football League in 2007.
The Shrimps’ first season as an EFL club saw them defeat Preston 2-1 at Deepdale.
Two years later and the tables were turned, North End winning 5-1 on home soil before prevailing 3-1 when the sides met again in 2018.
It also means Morecambe boss Stephen Robinson faces one of his former clubs, having played for Preston between 2000 and 2002.
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