The draw will be split in two, with seeded and unseeded sections, each seed will face an unseeded side.
Following Tuesday night's 2-1 victory over Port Vale, Walsall are amongst the unseeded sides, and are guaranteed to face higher league opposition.
Unseeded clubs will be subject to a pre-draw, while seeded clubs will be drawn out live on Sky Sports News.
Seeded:
Aston Villa, Birmingham City, Bolton Wanderers, Burnley, Cardiff City, Charlton Athletic, Crystal Palace, Derby County, Everton, Fulham, Hull City, Leeds United, Leicester City, Liverpool, Newcastle United, Norwich City, Nottingham Forest, Queens Park Rangers, Reading, Southampton, Stoke City, Sunderland, Watford, West Bromwich Albion, and West Ham United.
Unseeded:
Accrington Stanley, Barnsley, Bournemouth, Brentford, Bristol City, Burton Albion, Bury, Carlisle United, Cheltenham Town, Doncaster Rovers, Huddersfield Town, Leyton Orient, Millwall, Milton Keynes Dons, Morecambe, Newport County, Notts County, Peterborough United, Preston North End, Rotherham United, Stevenage, Swindon Town, Tranmere Rovers, Walsall, and Yeovil Town.
Premier League teams, Manchester United, Manchester City, Chelsea, Arsenal, Tottenham Hotspur and Swansea City and Championship club Wigan Athletic are all given a bye into Round Three due to their various European fixtures.
All ties will be played on the week commencing 26th August 2013.
The draw will be conducted by Gary Neville and Jamie Carragher and takes place at 12:30pm on Sky Sports News.