The draw for the semi-finals took place on 30 November 2011. Unlike the rest of the tournament, the semi-finals are played over two legs, with the
aggregate score after the second leg determining the winners. In the event of the aggregate scores being level after the second legs, 30 minutes of
extra time will be played, with the
away goals rule applied. The first legs took place in the week commencing 9 January 2012, with the second legs a fortnight later in the week commencing 23 January 2012.
First leg Second leg Cardiff City won 3–1 on penalties. Liverpool won 3–2 on aggregate ==Final==