It has been known for the past three seasons as the Checkatrade Trophy.
The competition involves all 48 teams from League One and League Two, as well as 16 category one academy sides affiliated to higher-level clubs.
This season's tournament starts on Tuesday, with Manchester United's under-21 side making their debut in the competition against Rotherham.
Tuesday's other game sees fourth-tier Swindon host Chelsea Under-21s, who reached the semi-final stage in 2017-18.
Portsmouth are the holders, having beaten fellow League One club Sunderland in a penalty shootout in last season's final at Wembley.
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