The Leasing.com Trophy Round Three Draw will take place live on Sky Sports News at 7:15pm this evening.
The Saddlers reached the third round of the competition after they came back from 2-0 down to beat Chelsea Under 21s 3-2 on Tuesday night.
There will be 16 Clubs involved in Round Three of the competition with the draw split into Northern and Southern sections.
Walsall will be ball number two in the Southern section of the draw.
The Saddlers will face one of Stevenage, Newport County, Portsmouth, Milton Keynes Dons, Exeter City, Ipswich Town and Bristol Rovers.
The Round Three draw, hosted by Jim White, will be available to watch live on Sky Sports News, with the draw covered in full on the @LeasingcomTrphy Twitter account.