The Blues could face Manchester City, Stoke City, Liverpool or Southampton in the last four.
The Blues sealed their spot in the last four of the competition on Tuesday evening with a routine 2-0 victory over Middlesbrough.
They now have to sit and wait to see who comes out on top between Liverpool and Southampton on Wednesday evening before the draw can be made.
The other two teams they could face are Stoke City or Manchester City, and Baines says they are prepared for any one of them.
“There are no easy rides and we are prepared for that,” he told the Liverpool Echo.
“This (Capital One Cup) run is something we’re all excited about - you could see that in the way we played and the support we brought up here.”
“We are made up to be in the semi-final draw and the chance to put our feet up tonight to see who we get and look forward to that tie.”
While Baines says the side are prepared for any opponent in the competition, there is no doubting they will hope to be avoiding Manchester City in the draw.
Indeed, a preferable result would see them paired with Stoke, who they would be confident of beating over two legs, and leaving City to either Liverpool or Southampton.
Having said that, Everton fans would surely relish the chance to take on the Reds over two legs in the competition, such is the rivalry between the two teams.