It will be the first meeting between the two players since the final of the Paris Olympics last summer, when Djokovic took victory to claim the gold medal he had so desperately craved.
This will be the third match they have played on a hard court, with Djokovic having won the previous two.
The 37-year-old has dropped only one set in Melbourne so far this tournament, making a strong start to his partnership with new coach Andy Murray as he eyes a record-extending 11th Australian Open title.
Djokovic goes into this match as the underdog, though. Alcaraz booked his place in the quarter-finals after Jack Draper retired when two-sets down in their last-16 clash, and the 21-year-old has been largely untroubled in four comfortable wins.
Should he be crowned Australian Open champion on Sunday, Alcaraz will become the youngest male player to have completed the Career Grand Slam, with Nadal at 24 the current holder of that particular record.
Djokovic vs Alcaraz start time
The quarter-final clash between Djokovic and Alcaraz will take place on Tuesday January 21, 2025.
It is scheduled to be the final match of the night session on Rod Laver Arena. Aryna Sabalenka will take on Anastasia Pavlyuchenkova at 8am GMT, with Djokovic and Alcaraz then following that match.
That means the players could walk out on court at around 9:30am GMT.
How to watch Djokovic vs Alcaraz
TV channel: In the UK, the match will be broadcast live on Eurosport.
Live stream: Subscribers can also stream the action online on the Eurosport website or via the Discovery+ app.