Northern Ireland get their qualifying campaign underway on March 21 when they welcome Estonia to Windsor Park before hosting Belarus on March 24.
Darlington-born Peacock-Farrell made his international debut just under 10 months ago in a 0-0 friendly draw with Panama.
He has since gone on to earn five caps but is still awaiting his first win as a Northern Ireland player, having drawn two and lost three of the games he has appeared in.
He played three times during Northern Ireland's UEFA Nations League campaign as Michael O'Neill's side failed to pick up a single point in their four games against Austria and Bosnia and Herzegovina.
Stuart Dallas has earned 36 international caps and made his debut eight years ago.
The 28-year-old signed for Leeds United in August 2015, helping to sky rocket his Northern Ireland career.
Dallas hadn't played a competitive game for his country before his move to Elland Road, but he soon became a key part of the Northern Ireland side that qualified for their first-ever European Championships in 2016.
Meanwhile, Sheffield United midfielder Oliver Norwood, who has become a regular starter under O'Neill, has been omitted from the squad for personal reasons.
Blades teammate Conor Washington missed the last round of international games but is back in the 27-strong squad for next week's qualifiers.
Rotherham United striker Kyle Vassell made his Northern Ireland debut in the Nations League but he misses out through injury.