The draw will take place live on Sky Sports following Coventry City's Championship meeting with West Brom, which kicks off at 12.30pm.
Former Sunderland and Baggies talisman Kevin Phillips, and former Cardiff City and Sky Blues striker Jay Bothroyd will conduct the draw which will be hosted by David Prutton.
The next stage of the competition will continue to be split into Northern and Southern sections.
Tranmere Rovers and Harrogate Town and Exeter City and Portsmouth saw their second round ties postponed this week, with all four teams set to be included in the draw along with the winners from the other knockout games which went ahead.
Rotherham United booked their place in the next round with a penalty shootout win over Port Vale on Tuesday night.
Sheffield Wednesday and Doncaster Rovers were both knocked out on Wednesday night by Hartlepool United and Crewe Alexandra respectively.
Round of 16 matches will be played the week commencing January 3.