The Blues, chasing a third final in seven seasons, visit the Vicente Calderon in the first leg on 22 April, with the return eight days later.
Atletico have a one-point lead at the top of La Liga and defeated Spanish rivals Barcelona in the quarter-finals.
Chelsea last met Atletico in the 2012 Super Cup and they were defeated 4-1 as Radamel Falcao scored a hat-trick in Monaco.
This time, the Blues could face 21-year-old goalkeeper Thibaut Courtois, who is on loan at Atletico from Chelsea.
It had been reported that, under the terms of the deal that took Courtois to Spain, Atletico would have to pay a sizable fee for the Belgium international to play against the Blues.
Chelsea boss Jose Mourinho won three of his four meetings with Diego Simeone's Atletico when in charge of Real Madrid between May 2010 and June 2013.
But Atletico have proved a force in Spain and in Europe this season.
Los Rojiblancos are on course for a first league title since 1996 and, in addition to Barcelona, they have also knocked AC Milan and Porto out of the Champions League this season.
I want chelsea to win but mourinho to lose
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