Arsenal are the latest top-flight club to enter a under-21 team in the competition.
The Gunners will be joined by youth sides from the likes of Manchester City, Tottenham, Chelsea and Everton.
In total, 16 teams with Category One academies have been invited to take part in the tournament.
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Meanwhile, there have been several minor rule changes for next term's Checkatrade Trophy.
Football League clubs can now name players who are out on loan at National League clubs.
In addition, invited teams will only be able to field two players above the age of 21 and have made more than 40 first-team appearances.
The draw for the first round of the competition takes places next month.
Pompey fell to a 2-1 defeat to Chelsea under-21s at the third-round stage last term.
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