The sides met in the Meon Valley League Cup on May 23, with Waterlooville running out 3-2 victors at Westleigh Park.
Now the pair return to Hawks’ ground to contest the delayed 2019-20 season Portsmouth Divisional FA Veterans Cup final.
Waterlooville are the holders having lifted the trophy the last time it was contested in 2019 - beating Bob’s XI 4-2 on spot-kicks after a 0-0 draw at Front Lawn.
Now they will be looking to claim another cup win over their Meon Valley Veterans League Division 1 rivals.
Waterlooville Social secretary Stuart Martin said: 'They’re all looking forward to it (the final). We played Paulsgrove a few weeks ago in the League Cup from last season as well.
'We beat them 3-2 and it was quite a feisty encounter, to be fair. We’d not played on the surface at Havant & Waterlooville since it’s been done to 3G and it was really nice.'
Paulsgrove will be gunning for revenge when they meet in the final, having also been beaten 4-1 by Waterlooville in a league game in April.
Grove assistant manager Steve Ledger is part of the vets squad, while he also featured for the first team in the recent L4 Teamwear Challenge Cup.
Grove vets manager Paul Smith says his side are eager to end the season on a high.
He said: 'It was a really good game (in the League Cup) and both teams played really well. They just had the edge on us.
‘They’re a really good side Waterlooville Social, they’ve got really good players.
‘We do owe them one and we’re out to turn the tables on them this time - hopefully we can do a job on them this time.'