The game will take place at St James' Park in the week commencing November 7th. It will be Palace’s penultimate match before the winter break accommodates the World Cup.
The Magpies beat Tranmere 2-1 to book their place in this round, with Jamaal Lascelles and Chris Wood scoring.
They last faced Palace in April this year on Tyneside, when the hosts won thanks to a goal from Miguel Almiron. This cup outing will sit between games in September and January between the two teams.
Fixture and ticket information for this third round clash will be confirmed shortly across cpfc.co.uk, the official Palace app and our social media channels.
Other draws on Wednesday night saw League Two Newport County facing Leicester City, Crawley pitted against Vincent Kompany's Burnley, and Manchester City taking on Chelsea.