United marched into the last eight with a 6-0 victory over Preston North End and were drawn away to the Tigers, who currently sit 18th in the top flight.
And while his side avoided the likes of Manchester United, Arsenal and Benitez's former club Liverpool, the Magpies' manager knows that Hull will be determined to make home advantage count as they bid to reach the semi-finals of the League Cup for the first time in their history.
"At this stage of the competition, there were a lot of Premier League sides so it was always likely to be a difficult tie," Benitez told nufc.co.uk.
"We have confidence, because we are doing well, but we have a lot of respect for Hull because they are a Premier League team and we will play away from home.
"So we will approach the game with hope that we can do well - but also knowing that it will be a hard game against a side from a higher league."
Hull have not won in the league since August, but have already knocked out Exeter, Stoke and Bristol City to reach this stage.
The quarter-final tie will be played in the week commencing 28th November, and ticket details will be confirmed in due course.