Defending champions Mexico will meet Germany in Salvador, Brazil on August 4 after being drawn together in Group C at this summer's Rio Olympics.
Less than four years after earning their first gold medal title, Raul "Potro" Gutierrez's men will also take on South Korea before closing the group stage round against Fiji in Brasilia.
Elsewhere, hosts Brazil were drawn with South Africa, Iraq, and Denmark, while fellow CONMEBOL participants Colombia were drawn in Group B with Sweden, Nigeria, and Japan.
Finally, two-time gold-medalist Argentina have been drawn with Honduras, Algeria, and Portugal.
The top two from each group will go through to the quarterfinals.
#Sub23 ¡Tenemos grupo completo!— Selección Nacional (@miseleccionmx) April 14, 2016
¡Vamos a defender el título olímpico!#Incondicionales pic.twitter.com/gHH5C8kKE5