The clash will take place at the Kassam stadium on August 23rd, kicking-off at 19:45 BST.
Ticket details will be released across cpfc.co.uk, the official Palace app and our social media channels shortly.
The game will not be broadcast live in the UK, but supporters can access audio commentary via Palace TV+.
Palace last faced Oxford competitively in 1998, winning 3-1 on Boxing Day. They also faced off in a friendly in August 2020 when Palace won 2-0.
Karl Robinson's side are currently in League One, finishing eighth in 2021/22. They were knocked out by Queens Park Rangers in last season's League Cup second round.
The second round is split into a northern and southern half, and is the first stage Premier League clubs not competing in a European competition enter. Burnley and Watford also begin their involvement at this stage.