Walshe and Peel have called on 11 players previously capped at this level while another 11 of the squad represented England at Under 18 level on their recent summer tour to South Africa.
"We're excited to work with the players in our squad. We have a good blend of guys with experience and new talent coming in from the Under 18s set-up.
"There is always huge competition at this age grade and a lot of players getting first team rugby at their clubs, it's tough to narrow that down to a group of 32 and we expect players to continue to push for inclusion.
"Competition for places will be high, but that's just what you want. We had a successful season last season and the aim is to perform even better."
England Head Coach Stuart Lancaster said:
"This season's England Under 20s squad is a strong one with lots of experience, the amount of competition for places in each position reflects well on the work the regional academies at the clubs are doing.
"A lot of the players in this squad have come through our age group international programme - nine are Junior World Championship winners - and that goes to show how well the development pathway is working with players progressing through from the 18s into the Under 20s and then hopefully pushing for places in the Senior and Saxons Elite Player Squads."
Since the formation of the England U20s side in 2007 - replacing the England U21 team - they have an impressive six-year record.
In the 60 matches played the squad have won 47 and lost just 13, a win percentage of 78 per cent.
The U20s have won four Six Nations titles, (2008, 2011, 2012 and 2013), and have been runners up in the Junior World Championship on three occasions and winners once.
England U20 Elite Player Squad 2013/14
James Chisholm (Harlequins), Joel Conlon (Exeter Chiefs), Tom Ellis (Bath Rugby), Charlie Ewels (Bath Rugby), Paul Hill (Leeds Carnegie), Jonny Hill (Gloucester Rugby), Danny Hobbs-Awoyemi (Northampton Saints), Maro Itoje (Saracens), Gus Jones (London Wasps), Lewis Ludlow (Gloucester Rugby), Alex Lundberg (London Wasps), Ross Moriarty (Gloucester Rugby), Cameron Neild (Sale Sharks), Will Owen (Leicester Tigers), Harry Rudkin (Leicester Tigers) , Harry Thacker (Leicester Tigers), Scott Wilson (Newcastle Falcons)
Callum Braley (Bristol Rugby), Billy Burns (Gloucester Rugby), Jordan Burns (Harlequins), George Catchpole (Leicester Tigers), Nathan Earle (Saracens), Louis Grimoldby (Harlequins), Zach Kibirige (Newcastle Falcons), Sam Olver (Northampton Saints), Howard Packman (Northampton Saints), Henry Purdy (Leicester Tigers), Harry Sloan (Harlequins), Tom Stephenson (Northampton Saints), Nick Tompkins (Saracens), Stuart Townsend (Exeter Chiefs), Anthony Watson (Bath Rugby)