After finishing 10th in the regular Premier League 2 season, Palace secured their place in the competition’s play-off phase.
The league adopted a Swiss-style format the season before last, with teams facing 20 of the 29 sides during the initial phase. The top 16 teams then progressed to a single-elimination round of 16 to determine the overall champion.
Play-off fixtures are determined by league position, with first playing 16th, second facing 15th, and so on. As a result of their 10th-place finish, Palace travel to face Liverpool, who finished seventh.
The tie will be played at the Liverpool Academy, with extra time and penalties used if required.
Should the Eagles progress, they will face either Manchester United U21s or Aston Villa U21s in the quarter-finals.
Full details, including the confirmed date, kick-off time and broadcast information, will be announced in due course.