For only the third time in two decades, we have both halves of the Old Firm competing in the UEFA Champions League group stages.
Celtic qualified as winners of the Scottish Premiership while Rangers battled through two tricky qualifying ties to join their neighbours at European football's head table.
Will it be a case of good things coming to those who wait, or will the return serve as a reminder that the game in Scotland has fallen well off the pace set by the continent's top teams? We'll get our answers when Celtic host current champions Real Madrid on Tuesday before Rangers journey to Ajax on Wednesday.
Celtic v Real Madrid
Tuesday, 20:00
Live on BT Sport
Hosts high on confidence
There's no ideal time to play a team of Real Madrid's quality, but Celtic enjoy home advantage for this fixture and hope they can catch their star-studded opponent cold.
Confidence is sky-high at Parkhead following Saturday's stunning win over Rangers in the Old Firm derby. The Hoops crushed their rivals, winning 4-0 on a day when it could have been more.
That win lifted Ange Postecoglou's champions five points clear at the head of the division and looking every inch a team good enough to make it two in a row, but there's still plenty of work to be done on that front.
For now, Celtic enjoys the distraction of playing the biggest team in the most popular competition in Glasgow.
It doesn't get any better, but can they mark the occasion with a memorable win? The betting doesn't suggest so, with backers offered 5.69/2 about victory for Celtic while the draw may appeal to some at 4.57/2. Fancy goals? No both teams to score is 2.245/4.
Visitors start as favourites
Real Madrid arrives in Glasgow's east end as the hot favourites to make a strong start and take all three points from the United Kingdom back to Spain.
This may be a huge occasion for their opponents, and the native will be in full voice, but for Madrid, this is a small step on a journey they hope ends with them retaining the Champions League trophy.
Madrid is expected to beat Celtic with a bit to spare before dominating the group.
We'll get a good look at their chances here, but fans have high expectations after watching their beloved Blancos beat Real Betis away from home at the weekend to move clear at the top of La Liga. They have now played four and won four, scoring 11 goals and conceding four.
This looks to be a case of how many Madrid will win by, although they will be made to earn the points. If Celtic start on the front foot, aiming to catch their opponents by surprise, things could get ugly. We're backing Real Madrid to win at 1.664/6.
Over 2.5 goals will do a job in your midweek accumulators at 1.684/6.
Ajax v Rangers
Wednesday, 17:45
Live on BT Sport
All to play for
At first glance, this group appears to be a three-horse race involving Ajax, Napoli and Rangers to finish second behind Liverpool.
The Reds are favourites to progress as winners of the pool, and if they live up to expectations, the battle for second should be entertaining. Ajax can boost their chances by making home advantage count against Rangers in Amsterdam.
The stats certainly support the locals, with Ajax winning each of their four previous meetings with Rangers, the most recent being a 1-0 win at Ibrox in 1996 with the winning goal scored by Arnold Scholten.
Much has changed at both clubs in the 26 years since that Champions League group match, so bettors won't pay too much attention to the head-to-head, other than Ajax's 100% record.
Will Sons of the Gods take three points on matchday one at the Johan Cruyff Arena? Bettors can't see past a home win with Ajax trading at 1.4740/85 for the victory.
They beat SC Cambuur 4-0 here on Saturday, with Steven Bergwijn netting a double, and if you're after slightly bigger odds, you may be attracted to Ajax -1 on the handicap at [1.72].
Pressure building on the Bears
The Rangers players, coaches and fans were put through the wringer by a rampant Celtic in Saturday's Old Firm derby.
They fell behind inside eight minutes, and the game was over as a contest by the interval. It was a day to learn from them and move on, but the defeat remains raw, and the visitors are under pressure.
Under normal circumstances, a trip to Ajax would be a free hit for the Gers, with their fans enjoying the city's delights.
I'll be one of them, visiting the museums and art galleries of Amsterdam before taking in the match. Following that painful loss at Parkhead and last season's run to the final of the Europa League, the pressure is on to perform, and expectations are higher than normal.
One positive for the visitors comes from the playoff round of this competition, where they defeated PSV, the Eredivisie's second team last season. Gers drew 2-2 at Ibrox before beating Eindhoven 1-0 in the return leg. Back Rangers at 76/1 for victory or under 2.5 goals in the game at 2.6613/8.