It’s likely to be the final warm-up game for the senior players as the League One season will start on Saturday, July 30.
Posh are likely to send their under 23s to play Peterborough Sports in the Maunsell Cup Final on Tuesday, August 2.
Posh boss Grant McCann played over 100 games in a two-and-a-half seasons for Scunthorpe between 2008-10 before moving to London Road on a free transfer. McCann scored 20 goals for Scunny including one in a EFL Trophy FInal against Luton Town at Wembley in 2009. He also played for Scunthorpe when they beat Millwall 3-2 in the League One play-off final later that year.
Scunthorpe were relegated from League Two last season.
Posh will release further friendly details in due course. They are expected to play two matches in Portugal.
The League One fixtures are due to be released on Thursday, June 23.