The tie to be played in the week commencing August 22 will pit Chris Turner's Hatters team against his old club.
With both teams leaving league one from both the top and bottom ends of the division, it could be a potential banana skin for Paul Sturrock's men as The Owls find their feet in the championship.
In other news, still no signings at Hillsborough to the frustration of many fans but one former Owl in Lloyd Owusu has moved on.
The striker, famous for scoring with his first touch against United and being sick on the pitch, has left Reading to rejoin Brentford.