Runaway Liga leaders Barca reached the last four of the competition for the eighth year in a row by beating local rivals Espanyol 2-0 on Thursday, while Valencia, who are third in the standings, sneaked into the last four by overcoming Deportivo Alaves in a penalty shoot-out on Wednesday.
Barca have won the last three editions of the Cup and reached the last four finals, while Valencia have not made it to a final since winning the tournament in 2008.
Leganes reached the semi-finals for the first time in their history by staging a second leg turnaround against crisis-hit Real, beating Zinedine Zidane's stumbling side 2-1 at the Santiago Bernabeu to advance on away goals.
Barca host Valencia in the first leg of the tie on either Jan. 31 or Feb. 1 with the second leg coming on Feb. 8 or 9, while Leganes will play the first leg against Sevilla at home.
(Reporting by Richard Martin, Editing by William Maclean)
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