The Gunners could face the likes of Fenerbahce and PSV Eindhoven, while Celtic are also in the hat as the British representatives look to seal their passage to the group stages
The draw takes place at Uefa's headquarters in Nyon at 10.45BST, with the Gunners looking to seal their progression to the group stages of Europe's elite club competition.
With the draw seeded, ensuring Arsene Wenger's side will avoid European powerhouse AC Milan and Ligue 1 giants Lyon, the Gunners will face either Fenerbahce, Metalist Kharkiv, Pacos de Ferreira, PSV or Real Sociedad.
And Wenger and his side are certainly not taking a step into the unknown in the play-off round.
Arsenal have beaten the likes of Celtic, Dynamo Zagreb and FC Twente in previous years and, in 2011, negotiated their way through a tricky tie against Udinese courtesy of a 3-1 aggregate triumph.
And it is that sort of experience that Wenger is hoping will stand his side in good stead going into the two-legged affair, with matches to be played on either August 20 or 21, and August 27 or 28.
"It is difficult because it is a stressful situation," the Frenchman told reporters.
"We did try very hard, though, to get into the situation and now is the time to take advantage of the fact we finished fourth and qualified.
"It is always a very tricky period but we have the experience of having done it before."
Celtic, meanwhile, will face one of Austria Vienna, Legia Warszawa, PFC Ludogorets Razgrad, Maribor or Shakhter Karagandy.