Rangers will play either Olympiacos or Ludogorets in the Champions League if they can knock Malmo out at the third round of qualifiers.
Steven Gerrard's men have a somewhat tough route into the group stages.
But they will feel quietly confident with the draw.
Ties will be played August 17/18 and August 24/25.
Gers could have faced difficult ties against the likes of FC Salzburg.
And they also dodged another powderkeg clash against Slavia Prague who were drawn away to Cluj or Young Boys should they win their third round qualifier against Ferencvaros.
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