Pearce will name a 23-man party for the UEFA European U21 Championship tournament in Israel after his Young Lions play friendlies against Romania at Wycombe's Adams Park on Thursday and Austria at Brighton's Amex Stadium next Monday.
And while the 50-year-old admits he has between 18 and 20 names already firmly in his thoughts for the summer, he has also emphasised
he is keeping an open mind about who might join them.
Asked on Tuesday the extent to which he knew his squad for Israel, Pearce, who has been in charge of England Under-21s at three previous European Championships, said: "You have to bear in mind that we have been in a qualification process now for the best part of two years, so we know who has contributed really well for us.
"But the thing is, at under-21 level especially, people can come on the scene very late and I wouldn't rule out anybody at this stage.
"It would be fair to say that if I had to jot 18, 19, 20 names down on a list that I hope will be there fitness-wise, we know those.
"But as I have found out in previous years, there is always one or two people that come in very, very late - Leroy Lita in my first time out had a real late charge, got in the team and had a real impact, and various other players have done exactly the same."
One player Pearce will want available this summer is Tottenham centre-back Steven Caulker, who had come back into the England Under-21 squad for their forthcoming double-header but has subsequently been called up to the seniors following the withdrawal of Rio Ferdinand.
Caulker is enjoying a landmark season, establishing himself as a key member of the Spurs team and scoring on his senior England debut against Sweden in November.
He is eligible to play from the start of the Under-21s' campaign in Israel after the two-game ban imposed on him by UEFA relating to the trouble at the end of last October's qualifying play-off second leg in Serbia was lifted on appeal.
Pearce said of the 21-year-old: "He is a real top professional and really wants to learn the game.
"I had the fortune to work with him not just at under-21 level but with the Olympic squad (which Pearce was in charge of last summer) as well, and the way he conducts himself and, more importantly, the way he wants to get better at his profession, is commendable.
"We are delighted he is up with the seniors and I think he thoroughly deserves that opportunity."
A number of more experienced players that were involved in the qualifying campaign have returned after a two-game absence to Pearce's squad for the Romania and Austria matches, including forwards Nathan Delfouneso and Marvin Sordell, defender Danny Rose and goalkeeper Jack Butland.
Butland is another that has made rapid progress, having been part of the Great Britain squad for the London Olympics and made a breakthrough to the senior squad.
He was selected for the Three Lions squad that travelled to the European Championships last summer and made his full international debut against Italy in August.
Butland's impressive form earned him a January move from Birmingham to Stoke, although he opted to return to Blues on loan for the rest of the season.
The 20-year-old has spoken about how he has rejected advances from the likes of Chelsea and Manchester City because he did not want his development to be hampered by a lack of first-team opportunities, and Pearce is certainly impressed.
"I don't think he is washed away with celebrity in any way, shape or form," Pearce said.
"We have a few Jack Butlands in this under-21s squad at the moment - they are an absolute pleasure to work with.
"When you have that mentality, like Caulker and Butland, to want to learn and get better, you can go as far as you want."