Rangers will face one of FC Twente, Fenerbahce, Bodo/Glimt or Anderlecht in the round of 16 of the Europa League.
Philippe Clement's side skipped the knockout play-off round after finishing in the top eight of the revamped league phase.
An eighth-place finish meant going into the draw alongside Olympiacos awaiting the winners of the knockout play-off round ties between Twente and Fenerbahce or Bodo/Glimt and Anderlecht.
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The first-leg will be played AWAY on Thursday, March 6 with the return leg at Ibrox on Thursday, March 13.
The draw for the last 16 will be made on Friday, February 21.