Rangers will take on Olympiacos or Ludogorets in the Champions League playoffs if they get past Malmo.
Steven Gerrard’s side open their qualifying campaign in Sweden on Tuesday. They and Malmo were unseeded for the play-off draw.
Olympiacos are favourites to get past the Bulgarian side as they look to reach the Champions League group stage for the fourth time in five years.
They lost to Arsenal in the last 16 of the Europa League last season after knocking the Gunners out of the same competition the previous year.
Ludogorets finished bottom of their Europa League group last season but have Champions League group experience in 2014-15 and 2016-17.
The winner of the Rangers-Malmo tie will be at home first in the Champions League playoffs on August 17-18.
The loser will drop down to face either Kairat Almaty of Kazakhstan or Armenian champions Alashkert in the Europa League play-offs.
Celtic are on course to play AZ Alkmaar at the same stage of the Europa League.
The Hoops will take on the Dutch side if they get past Jablonec of the Czech Republic over the course of the next fortnight.
Alkmaar go straight into the play-off round after finishing third in the Eredivisie last season.
They were unbeaten in their first 32 European home matches until losing to Everton in 2007 and did not lose in four European home games last term.
Alkmaar finished third in their Europa League group, taking four points off Napoli, after dropping out of the Champions League qualifiers.
If Celtic lose to Jablonec they will drop down to the Europa Conference League play-off round and face either Tobol Kostanay or MSK Zilina.
Meanwhile, St Johnstone will take on Danish side Randers if they shock Galatasaray in the Europa League third qualifying round. But if the Perth club lose they will drop down to the Conference League to face either face Vojvodina or LASK.
Elsewhere in the Europa Conference League, Aberdeen have been drawn to face either Limassol or Qarabag if they beat Icelandic side Breidablik, while Hibs will play PAOK or Bohemians if they knock out Rijeka of Croatia.