But remarkably Rangers have not lifted the trophy since 2009. And with Giovanni van Bronckhorst’s side trailing Celtic by six points in the race for the Scottish Premiership, this could well be the last opportunity they have to save their season.
By contrast, Celtic won the Scottish Cup four times in a row between 2017 and 2020, before that run was ended by St Johnstone last year.
It promises to be a fascinating clash in front of a raucous crowd at Hampden Park. But who will come out on top?
Here is everything you need to know about the Old Firm derby.
When is Celtic vs Rangers?
Rangers vs Celtic will kick off at 2pm BST in the UK on Sunday 17 April at Hampden Park in Glasgow, Scotland.
How can I watch Celtic vs Rangers on TV?
The match will be streamed live on Premier Sports 1 and Premier Sports 2. It is not being broadcast on terrestrial TV in the UK.
Celtic have no fresh injury concerns heading into their second Old Firm Derby in a fortnight.
Both Alfredo Morelos and Aaron Ramsey are back in the fold for Rangers after recovering from their injuries earlier this month. Forward Fashion Sakala is also available again following his recovery from Covid.
Celtic: Hart; Juranovic, Carter-Vickers, Starfelt, Taylor; Hatate, McGregor, Rogic; Jota, Giakoumakis, Abada.
Rangers: McGregor; Tavernier, Goldson, Balogun, Bassey; Jack, Lundstram; Ramsey, Aribo, Kent; Morelos.
Celtic come into this one with a lead in the Scottish Premiership title race and with the knowledge that they already beat Rangers two weeks ago. Expect that to play on both teams’ minds during this clash. 2-0 to Celtic.