This weekend's final plays host to two of the WSL 1 heavyweights. More than 30,000 tickets have been sold for the showpiece and the FA have predicted a record crowd for the second final ever to be played at Wembley.
As the London rivals take to the hallowed Wembley turf on Saturday, we take a look back at some of their most memorable encounters.
So, without further ado, here are four previous meetings between the two sides:
Arsenal 4-1 Chelsea, 24 April 2008
Let's cast your minds back to 2008 - Arsenal were in their prime. The previous season they won the Premier League, FA Cup, League Cup, Community Shield and most importantly of all, the UEFA Women's Champions League.
The Gunners clinched their 10th title in 15 years at the Emirates, after a dominant performance against local rivals Chelsea.
Karen Carney grabbed a brace in a player of the match performance, whilst Kelly Smith, creator of two goals, converted from the spot.
Undoubtedly, one of the highlights of this match was 17-year-old Kim Little registering her first goal for Arsenal. The tricky play-maker, who is currently ripping defences apart in America for Seattle Reign, had a night to remember in front of a 5,000 strong crowd.
The Scottish international, a recent acqusition by manager Vic Akers, went on to be named the MVP in her first season in the NWSL.
Chelsea 2-0 Arsenal Ladies, 3 May 2012
Chelsea were triumphant in the FA Women's Cup semi-final in 2012 as an impressive display from keeper Sarah Quantrill kept the Gunners at bay.
A magnificent effort from Helen Bleazard inside the first half put the Blues ahead, before a late Dunia Susi header put the tie out of sight and ended a frustrating night for Laura Harvey's side.
The Arsenal manager, who is also currently with Seattle Reign, named her strongest squad for the fixture, with Kim Little, Rachel Yankey and Steph Houghton all included in an impressive five-man midfield.
In the second half though, Chelsea held firm after intense pressure from the Gunners to book their place in the final against Birmingham City. Birmingham won the final, beating Chelsea 2-2 AET (3-2 pen.) at Ashton Gate.
Chelsea 3-5 Arsenal (AET), 11 May 2014
Arsenal Ladies reached the FA Cup Final in 2014, after beating Chelsea 5-3 after extra time in a remarkable match in Woking.
After a goalless first half, it turned into a lively encounter. Kelly Smith had a penalty saved in the opening 45, but redeemed herself in the 70th minute to draw the sides level - after Ji So-yun had given Chelsea the lead.
The Blues pulled ahead once again through Yuki Ogimi before Smith completed her brace to send the tie to extra time.
Strikes from Dan Carter and Shinobu Ohno put Shelley Kerrs' Arsenal ahead in added time. Eni Aluko pulled back a consolation for Chelsea, but centre-half Casey Stoney sealed the victory with a firm header.
The Gunners were then crowned FA Cup champions for the 13th time after a 2-0 victory over Everton at Stadium MK.
Arsenal Ladies 0-2 Chelsea, 21 April 2016
In the last few weeks, Chelsea have pushed a step ahead in terms of psychological warfare. The Blues walked away from Meadow Park with a 2-0 victory under their belts last month, setting a precedent for the FA Cup tie at Wembley.
A double from Fran Kirby saw Arsenal Ladies slip to a 2-0 defeat against Chelsea in the WSL.
The defeat for Arsenal gave their title hopes a battering, as the leading pack of Chelsea and Manchester City look to be edging further and further ahead.
Arsenal will inevitably go into the final as underdogs due to the team's differing league form, but they will certainly be looking to get revenge on their London rivals on Saturday.