The series, which was founded and debuted in Sweden last year, will be open to drivers aged between 15-25 who are taking their first steps into racing.
The 20 drivers, consisting of male and female participants, will compete across six rounds this season.
This includes Misano, Berlin, Monaco and London for Formula E, while it will also support the DTM at the Norisring in July and Hockenheim in October.
For Formula E supports, events will consist of two 20-minute practice sessions, except Monaco which will feature just one, a 20-minute qualifying session and a 20-minute race.
It marks the first time that Formula E has had a regular support series since the Jaguar I-Pace eTrophy disbanded in 2020 after two seasons.
“We are delighted to welcome the NXT Gen Cup after their hugely successful debut last year,” said Alberto Longo, co-founder and chief championship officer of Formula E.
“The addition of an all-electric junior category to the European part of our calendar will further contribute to the essential nurturing of young talent, a key part to our sport and give them the opportunity to race on the same stage as our world-class drivers and teams.”
The single-make series will use electric MINI Cooper SE road cars which have been developed by the Lestrup Racing Team and will be run centrally for all 20 drivers.
The front-wheel drive cars produce 180bhp, which will increase by 60bhp with push-to-pass, and use Hankook semi-slick all-weather tyres.
Former touring car racer Fredrik Lestrup, series founder of NXT Gen Cup, said: "For NXT Gen Cup to go from an idea on paper less than two years ago to racing together with Formula E and DTM this year is mind-boggling and an inspiring proof on the hard work by everyone involved.
“We have together with Formula E and DTM created a spectacular calendar which will provide our junior drivers with a robust foundation to start their racing careers and show their talents to some of the best teams and partners in the world.”
