The club, along with 15 other teams with Category One academies, was invited to play in the rebranded competition, formerly named the Johnstone’s Paint Trophy, alongside 48 League One and Two sides.
And the tournament offered the Championship club another route to the new Wembley.
But, unlike Sunderland and Middlesbrough, Newcastle have declined to take part as manager Rafa Benitez plans to loan out many of its Under-23 squad this season.