Peacock, a former Iron player, will head to Lincolnshire to lead his young Three Lions side against the best youngsters from Australia, Portugal and Turkey.
Games are also being held at Sincil Bank and Blundell Park. Glanford Park will host Portugal v Australia on Wednesday August 25 amd England's final game, against Portugal, on Sunday August 29.
"It should be a fantastic advert for youth football. Over the years, this tournament has seen many players progress through to U21 and full international status," said Peacock.
"This is the pinnacle of every player's career and I am sure we will have a few more from this year group looking to follow in the footsteps of Theo Walcott, Jack Wilshere and James Milner. The experience gained from this tournament and the Uefa qualifying tournaments can only be of huge benefit in achieving their long-term goal.
"There are some difficult games ahead but I know all four countries are really looking forward to a quality competition that will hopefully give them confidence going into the new season."
Squad in full: Ben Garratt (Crewe Alexandra), Jordan Pickford (Sunderland); Nathaniel Chalobah (Chelsea), Jordan Cousins (Charlton Athletic), Luke Hendrie (Manchester United), Adam Jackson (Middlesbrough), Sam Magri (Portsmouth), Ellis Plummer (Manchester City), Matthew Regan (Liverpool); Robbie Cotton (Blackburn Rovers), Blair Turgott (West Ham United), Alex Henshall (Manchester City), Raheem Sterling (Liverpool); Zak Ansah (Arsenal), Max Clayton (Crewe Alexandra), Matthias Fanimo (West Ham United), Hallam Hope (Everton), Nick Powell (Crewe Alexandra).