As the Under-21 team, Wolves will face all three sides away from home and compete for a place in the knockout stages.
Scunthorpe are the highest placed opposition in League One, while Lincoln and Mansfield will be competing in League Two next season.
It will be Wolves’ second Checkatrade Trophy campaign, after Scott Sellars’ side made it to the third round of the 2016/17 competition.
After finishing top of Group B, Wolves beat Sunderland Under-21s in the knockout stage, before bowing out to Swansea City Under-21s.
This time Wolves will be allowed to field two players who are over the age of 21 and have played more than 40 first-team matches.
The first round of games will take place week commencing Monday 3rd September.