Wolves will play Pyunik of Armenia or Czech Republic side Jablonec in the Europa League third qualifying round if they beat Northern Ireland's Crusaders.
Wolves host Crusaders in their second round qualifier on Thursday before the return leg on 1 August.
Rangers will face Denmark's Midtjylland if they beat Progres Niederkorn, while Aberdeen could meet Croatia's Rijeka if they beat Chikhura Sachkhere.
The third qualifying round is on 8 and 15 August, before the play-off round.
If Linfield make it through their second qualifying round tie against Faroe Islands side HB Torshavn, they will face Apoel Nicosia of Cyprus or Montenegro's FK Sutjeska.
And if Welsh Premier League side Connah's Quay Nomads were to shock Partizan Belgrade, they would take on Turkish outfit Malatyaspor or Slovenia's Olimpija Ljubljana.
Meanwhile, if Celtic are eliminated from the Champions League by Nomme Kalju in the second qualifying round, they will play Shkendija of Macedonia or Luxembourg's F91 Dudelange.
Equally, if Welsh Premier League side The New Saints exit the Champions League at the same stage, they will face Iceland's Valur Reykjavik or Bulgarian side Ludogorets Razgrad.
Wolves finished seventh in the Premier League last season and are playing in European football for the first time since 1980.
They go into their Europa campaign on the back of beating Manchester City on penalties to win the pre-season Premier League Asia Trophy.
England's other representatives, Arsenal and Manchester United, enter the Europa League at the group stage, following the play-off round.