The Buccaneers will take on Sundowns in the last eight, if Masandawana win their rescheduled last 16 game against Polokwane City.
Monare put in a sterling performance against the Team of Choice, enough to earn him the was Man-of-the-Match award.
Pirates went into half time trailing 1-0, but three second half goals earned them the victory.
Thabiso Kutumela put the home side in the lead, but substitute Kabelo Dlamini levelled the scores for the Buccaneers, before Deon Hotto and Vincent Pule also netted for Pirates.
“I feel like we had to be tested in terms of character, and we just proved today that we have a right attitude, big hearts and the right character. It’s not everyday at that a team comes back from a goal down away from home,” said the midfielder.
“I feel good and obviously I can’t leave out the help of my teammates. I’m in the right frame of mind and I want to help the team win games. But it’s one game at a time, we qualified for the quarterfinals. No we are looking forward to our next league game, that’s what we have to focus on.”
Bucs, who last won the Ke Yona Cup back in 2014, have placed themselves in a good position to win their second trophy of the season.
The Soweto club won the MTN8 early in the season, ending a six-year trophy drought.
The Buccaneers will look to extend a six game unbeaten run in all competitions, when they take on Bloemfontein Celtic in the DStv Premiership on Tuesday.
Nedbank Cup quarterfinal draw
Black Leopards vs Tshakhuma Tsha Madzivhandila
Chippa United vs Richards Bay
Cape Town All Stars vs Pretoria Callies
Mamelodi Sundowns/Polokwane City vs Orlando Pirates