Alcaraz will become the youngest player to win all four major titles if he lifts the Norman Brookes Challenge Cup at Melbourne Park for the first time this week.
But the 21-year-old faces an almighty hurdle in the form of Serbian superstar and seventh seed Djokovic at Rod Laver Arena on Tuesday night.
"Obviously I'm one step closer," Alcaraz said after his 7-5 6-1 walkover against Britain's Jack Draper in the fourth round.
"But what I've learned in the previous grand slams that I've played is going day by day in a grand slam.
"Grand slams could be so long if you're thinking about what's next or about thinking in the future.
"I just want to think about the present day by day, just trying to feel as good as I can every day, respecting every round, every player. That's it.
"I think that helps a lot to show your best tennis in every match, just thinking about the present and giving the hundred per cent of yourself."
Djokovic enters the match after his drama surrounding Channel 9's Tony Jones. (James Ross/AAP PHOTOS)
Djokovic enters the contest amid a wave of controversy, having taken offence to a poorly executed on-air joke from veteran Australian television broadcaster Tony Jones.
But the 37-year-old is keen to move on ahead of an eagerly anticipated clash with Alcaraz, who won in straight sets when the pair met in last year's Wimbledon final.
Djokovic boasts a 4-3 record in their head-to-head battles.
"I'm expecting a big battle, as is the case in most of our matches where we faced each other," Djokovic said.
"Maybe just couple times it was quite one-sided.
"Wimbledon finals last year, he was the dominant force on the court. I had a really good match against him in the World Tour Finals in 2023.
"Other than that, we had some long battles, long exchanges kind of matches that I played against him.
"(They) remind me of my match-ups versus (Rafael) Nadal in terms of the intensity and the energy on the court.
"He's very dynamic, explosive player. Incredibly talented, charismatic player. Great to watch, not that great to play against."
Alexander Zverev faces a torrid quarter-final against Tommy Paul. (Joel Carrett/AAP PHOTOS)
Alcaraz-Djokovic isn't the only blockbuster in the men's draw on Tuesday, with second seed Alexander Zverev taking on 12th seed Tommy Paul.
The American boasts a 2-0 head-to-head advantage over his German opponent, but the pair haven't met in almost three years.
Paul has dropped just one set in his past three matches and is chasing a spot in the last four for the first time since his career-best semi-final run at the 2023 Open.
"I think he grew a lot as a player, right? He's close to being top 10 in the world," two-time Open semi-finalist Zverev said.
"He had some great results at grand slams, masters events. He's a top player now - very, very different to the last few times I played him.
"Again, a lot of time has passed since then, but I'm looking forward to this match."
In the women's draw, top seed Aryna Sabalenka continues her bid for a third straight Open title against Anastasia Pavlyuchenkova.
Red-hot third seed Coco Gauff - on a 13-match winning streak since November - takes on Spain's 11th seed Paula Badosa.
