Liverpool face a tough tie in the third qualifying round of the Champions League as they have to overcome Toulouse to book a group stage spot.
Arsenal have been drawn against Sparta Prague over the two legs to be played on 14/15 and 28/29 August.
Scottish champions Celtic have a tricky match against Spartak Moscow.
Rangers came through their second qualifying round tie against FK Zeta of Montenegro and will play Crvena Zvezda or Levadia Tallinn.
The winners will go through to the group stages, when English duo Manchester United and Chelsea will enter the tournament.
Crvena Zvezda, also known as Red Star Belgrade, hold a 1-0 lead over Estonian side Levadia Tallinn after the first leg in Serbia. Whoever Rangers play they will be at home in the first leg.
Celtic's opponents Spartak Moscow play on an artificial pitch and are midway through their domestic season.
Arsenal were one of the last teams out of the draw and will face a team with plenty of Champions League experience in Sparta Prague.
Manager Arsene Wenger said: "You could see every tie is difficult now.
"Overall we know that it is just about putting in a good performance.
"Sparta have a good knowledge of the competition. When there is an experience in the opposition club it is always a difficult game - but we still feel we have enough quality to have a good chance to go through."
Liverpool, who lost out in the final of the competition last season, face a trip into the unknown when they take on French club Toulouse.
But manager Rafael Benitez was satisfied with the draw.
He said: "I am happy with the draw for two reasons. Firstly, the travelling will not be a problem, and secondly, the second leg will be at Anfield in front of our supporters.
"After travelling to Hong Kong, Switzerland and Rotterdam, the last thing we wanted was a long trip.
"But Toulouse are a good side with some good players. The French league is of a high standard and so this will not be an easy game.
Celtic operations manager Ronnie Hawthorn said it was certain to be a tough match for the Scottish champions.
"Everyone is seeing it as a difficult game but it's the old story - they're all difficult games," he said.
"I know Gordon Strachan and his team will be preparing as they do for every match - thoroughly.
"So we'll prepare positively for this game and we'll do everything in our power to be successful in it.
"Certainly it's a long way to go, we've never played them before and they're a team that deserve our utmost respect."
The lucrative group stages of the competition run from 18 September to 12 December and the final will be played in Moscow on 21 May 2008.
BATE Borisov v Steaua Bucharest
Tampere United v Rosenborg
Spartak Moscow v CELTIC
Werder Bremen v Dinamo Zagreb
FC Salzburg v Shakhtar Donetsk
Ajax v SK Slavia Prague
Valencia v IF Elfsborg
FK Sarajevo v Dynamo Kiev
Fenerbahce v Anderlecht
RANGERS v Crvena Zvezda
Toulouse v LIVERPOOL
Benfica v FC Copenhagen
Lazio v Dinamo Bucharest
Sparta Prague v ARSENAL
FC Zurich v Besiktas
Sevilla v AEK Athens