On account of finishing third in the Women's Super League season, the Gunners have to play a total of four qualifying matches just to make it to the group stage of Europe's premier competition.
After being knocked out by Wolfsburg in the 2022-23 semi-finals, Arsenal failed to make it past the qualifying rounds last season, suffering an agonising defeat to French outfit Paris FC on penalties.
As the third-best WSL team in the 2023-24 campaign, Arsenal were drawn into the league path for Friday's qualifying draw, and their first opponents will be Scottish giants Rangers in the Group 3 semi-finals.
The Blue Belles topped the standings in the first phase of last season's Scottish Women's Premier League, only to settle for second behind Celtic on goal difference following the Top Six/Bottom Six split.
Managed by Jo Potter - who spent one year as an Arsenal player during the 2003-04 season - Rangers reached the second round of qualifying in the 2022-23 campaign, beating Ferencvaros and PAOK before losing to Benfica in the Champions Path.
Arsenal to face Spanish giants if they beat Rangers
If the Gunners are successful in their endeavours against Rangers, they will progress to the round one final, where either Atletico Madrid or Rosenborg will be standing in their way of progression.
Atletico also finished third in the 2023-24 Liga F season behind Real Madrid and champions Barcelona, and they made the quarter-finals of the Champions League in 2019-20, their best result at the competition to date.
Meanwhile, Rosenborg finished as runners-up to Valerenga in the 2023 Toppserien - in addition to winning their ninth Norwegian Cup - and they were on the verge of reaching the 2022-23 group stage before losing to Real Madrid in their final qualifying encounter.
Arsenal's round one semi-final against Rangers takes place on September 4, three days before a potential meeting with Atletico or Rosenborg in the final on September 7.
Should the Gunners make it through to round two of qualifying - the draw for which takes places on September 9 - the first leg of that tie will take place on September 18/19 before the return battle on September 25/26.
All of Juventus, Hacken, Paris Saint-Germain, Wolfsburg, Real Madrid and Manchester City - who announced the signing of ex-Arsenal striker Vivianne Miedema on Friday - will enter the qualifying competition in the round two League Path.