Rangers face a potential grudge match with Slavia Prague if they get past Malmo and reach the Champions League playoff round.
As Scottish champions, Steven Gerrard's team go into qualifying with just two rounds before the group stage of the lucrative competition.
Rangers haven't reached the Champions League proper since 2010 and last time they were this far they were eliminated in the third qualifying round - and by Malmo of all teams.
But they are heavily fancied to dispatch of the Swedes this time around and book themselves a crunch playoff tie - in which a win could be massive for the Ibrox side.
If they do make it beyond Malmo, who sit on top of the Swedish Allsvenskan at the 13-game mark, the opposition steps up a gear.
They could face Austrian champions Red Bull Salzburg who are regulars in the Champions League.
And they could also face a swift reunion with Slavia Prague, who eliminated Rangers from last year's Europa League at the round of 16 stage.
The Czech side are infamous in Glasgow after their defender Ondrej Kudela was banned for ten games for racially abusing Glen Kamara at Ibrox.
And they are among the sides who could lie in wait if they beat Hungarians Ferencvaros and Rangers make it into the playoff round.
Rangers will go in unseeded and the draw looks tough if they do advance, with the likes of Olympiacos or Dinamo Zagreb potentially facing Gerrard's side.
Rangers potential Champions League opponents:
RB Salzburg
Dinamo Zagreb or Legia Warszawa
Ferencvaros or Slavia Prague
Olympiacos or Ludogorets
