Arsenal meet their north London rivals in the Cup for the first time in 12 years and the England forward is relishing the opportunity to take on Spurs in this year’s competition.
He said: "The FA Cup is always special, for me, being English as well. I love the FA Cup.
"Every time Tottenham come here or we go there, you want to put 100 per cent in and more if you can.
"These are massive games, the games everyone wants to be part of. We have got to be right up for Tottenham and I can't wait for that game at all."
Arsene Wenger’s men go into the game on the back of back-to-back Premier League victories, and Walcott believes the tie has come at a good time for the Gunners.
North London derby history
- Number of meetings: 173
- Most wins: Arsenal (74)
- Most appearances: David O'Leary (35)
- Top goalscorer: Emmanuel Adebayor (10)
"I think it is going to be a bad time to play us as well. For the neutrals it is going to be a very interesting battle,” he added.
"I can't call it. It is one of those games that is going to be very open.
"Tottenham, since their new managerial appointment, have done very well to be fair to them but, like I say, they won't want to play us.
"It is at the Emirates – we are trying to make our stadium into a fortress and we are starting to do that."
The pair last played in the FA Cup in the semi-final of the 2001 competition – an encounter Arsenal went on to win 2-1 as goals from Robert Pires and Patrick Vieira cancelled out Gary Doherty’s opener.
Arsenal also came out on top the last time the two met in the Premier League, with an Olivier Giroud goal deciding their September clash.
Meanwhile, Tottenham captain Michael Dawson says his side will go into the contest full of confidence.
"We never go anywhere with fear, especially Arsenal," he said.
"It's a north London derby. We know what it means to the fans and to the players. There's immense pride for all of us in pulling that white shirt on, playing for the team and each other.
"That's what we'll be doing on Saturday, as we have all season."