Karl Robinson's side currently sit 22nd in League One and qualified for the third round after beating Newport County earlier this week.
The game will be played on the week commencing Monday 24 September, with the exact date and time to be confirmed in the coming days.
City won the competition for the fifth time last season after a fine 3-0 victory over Arsenal in February’s final at Wembley.
Full third-round draw:
West Brom v Crystal Palace
Arsenal v Brentford
Burton v Burnley
Wycombe v Norwich
Oxford United v Manchester City
West Ham v Macclesfield
Millwall v Fulham
Liverpool v Chelsea
Bournemouth v Blackburn
Preston v Middlesbrough
Wolves v Leicester
Tottenham v Watford
Blackpool v QPR
Everton v Southampton
Manchester United v Derby
Nottingham Forest v Stoke City
Full ticket information will follow on mancity.com in the coming days.
Carabao Cup - Key Info
Round two: Week commencing Monday 27 August
Round three (City enter): Week commencing Monday 24 September
Round four: Week commencing Monday 29 October
Quarter-finals: Week commencing Monday 17 December
Semi-finals: Week commencing Monday 7 January and Monday 21 January
Final: Sunday 24 February
No extra time
In the event of a draw in 90 minutes, matches (including the semi-finals, which were previously decided by an Away Goals Ruling if scores were level on aggregate after the second leg) will now go straight to penalties, in a bid to reduce the risk of fatigue and encourage teams to field stronger sides.
Extra time would come into effect if the Final ended as a draw after 90 minutes.
Last season, for the first time, a Video Assistant Referee was employed in the semi-finals and Final. This term, it will be used in all rounds played at Premier League grounds.
Penalty shoot-out format
Shoot-outs will no longer employ the ABBA format, and will instead revert back to the traditional ABAB system.
Until now, five bookings in all domestic competitions would contribute to a one-match ban. However, the ruling has been amended to exclude League Cup cautions, which will only be relevant to that competition.