Chelsea's 4-1 win against Everton in Wednesday night's fourth round replay means the U's will travel to west London in the fifth round on February 19 in a match televised live on Sky.
The dream tie is the icing on the cake of what is turning into the perfect loan spell for the Irish forward.
Colchester currently sit proudly on top of League One and Phil Parkinson was named Manager of the Month for January after the men from Layer Road won all four league games and knocked both Derby County and Sheffield United out of the FA Cup.
"Everyone is buzzing, the club has been waiting a long time for something like this," beamed Yeatesy on Thursday. "To get Chelsea is a massive draw.
"It's a fantastic tie for Colchester and gives us the platform to go and show what we're all about.
"From a personal level as well it gives me the chance to play on the big stage and show everyone what I can do, including the gaffer and coaching staff at Spurs.
"If I do well in this game at Chelsea it can only help me and I have to go into the game thinking that way."
Yeatesy understandably insisted that Colchester would go to Stamford Bridge in high spirits - they have won nine out of their last 10 games (the only defeat in the LDV Vans Trophy) and are on a run of just two losses in the last 23.
"The lads are full of confidence," he added. "We've got two massive games before Chelsea (Huddersfield and Walsall) and if we can continue our run, we'll be flying by the time that game comes along."
Mark Yeates is relishing the prospect of taking on Chelsea at Stamford Bridge with his loan team Colchester United in the FA Cup.