The replays have been removed to ease the congested football schedule caused by COVID-19.
The financial impact of the pandemic has also seen the prize money reduced, with the winners set to receive £1.8million compared to £3.6m from last season.
The competition will return on September 1, with the final set to take place May 15, 2021.
Arsenal won the competition for a record 14th time with a 2-1 victory over city rivals Chelsea earlier this month.
The English Football League (EFL) also announced that the Carabao Cup semi-finals will only be one-legged next season.
The Carabao first round will take place on September 5, while the final will be on February 28, 2021, with Manchester City looking to win the trophy for a fourth consecutive time.