The two British teams will play each other in the group stage of the European Championship.
The Scottish side, who overcame PSV on Wednesday to qualify for the group stages, will face the Reds for the first time.
Last season's beaten semi-finalists, Manchester City, were drawn against Sevilla and FC Copenhagen in Group G, while Erling Haaland will get a quick reunion with his old club.
AC Milan will face a former defender in Fikayo Tomori, as well as Salzburg and Dinamo Zagreb, in the group stages.
In the draw for the group stage of the competition, Spurs were grouped with Eintracht Frankfurt, Sporting Lisbon, and Marseille.
Celtic will face Real Madrid in a glamour tie in the group stage for the first time in a long time, as they return to the group stage after a year's absence.
Group A includes Rangers. Group B includes Porto, Atletico Madrid, and Club Bruges. Group C includes Inter Milan. Group D is made up of Frankfurt, Spurs, andSporting. Group E includes AC Milan, Dinamo Zagreb. Group F includes Real Madrid. Group G includes Man City, Sevilla, and other teams. Group H includes Paris Saint-Germain, Benfica, and Haifa.
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Kris Boyd is a former Rangers player.
When you get to this stage of the competition, you're really happy.
The boys will be looking forward to it. After a long time away from European competition, Rangers are back in it. Confidence was built from a great run last year and it makes for a great group.
It will be hard, but it could have been worse. Calvin Bassey will be going back to Ibrox soon after he leaves for a big fee, so I'm sure he's looking forward to that. It will be a great occasion with two clubs with great history going head-to-head, I'm sure that will be one everyone is watching. The season is off to a good start for Napoli, who were third last year. We will wait and see what happens, but Rangers will be in there with a fighting chance.
Some of the best players in the world talk about their experiences at Celtic Park and Istrox. You will always have it with you. The stadiums generate a lot of noise. Rangers will be excited to welcome the teams they've got coming because it's been a long time. I think the atmosphere can play a big part, we saw it again against Union and it knocked them out of the group stage of the playoffs. Rangers fans will be looking forward to hearing that song again because it's been a long time since they've heard it.
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Sky Sports News has a player speaking.
It's a great draw, obviously. The fans have been dreaming about getting the reigning champion to visit. Real Madrid are one of the big teams in the playoffs and it will be great. We are looking forward to it at home.
We will work hard, we will do our best, and I think we will have a chance with the atmosphere at home.
There is a very competitive group. We will work hard and focus on the task at hand. The other teams should be respected. It's going to be difficult, but we know we can do it and we will take them.
I am looking forward to it a lot because I have been hearing from the other players about the night at Celtic Park. I have been watching the games on the internet. I can't wait to hear the anthem of the league before the game. I am looking forward to it. You have to be here and it will be great.
We will play our way and be brave. I think it's a dream of every player, and if I have the chance to score, I will do it and celebrate as much as possible.
After the draw, the full fixture list for the group stage will be revealed.
After playing in the group stage of the competition, the Reds face a lot of difficult games in the league.
Following their second group match, the side will travel to the other side of the world.
Their run doesn't end there as they host Manchester City and then go to Spurs after Group A has ended.
The fixture run of Manchester City seems more favorable. After their first match in Group G, they host Manchester United.
The draw for the round of 16 will be held on November 7.
The Atatrk Olympic Stadium in Istanbul, which hosted the 2005 AC Milan victory, will be the site of the final in the year 2023.
The Round of 16 was held in February, March, and April.