Holding a 1-0 lead from the first leg on August 22 thanks to Ahmed Qasem's goal in the 15th minute, the home side will hope to make it through the qualifiers for the first time since 2013-14.
Match preview
Qasem's finish in the first leg capped off a brilliant team move that started in his side's own half, with the forward taking advantage after his feint opened space for Michael Baidoo to play a pass to him in the penalty area.
However, Elfsborg will be disappointed they did not double their lead before half time considering they squandered promising chances in front of goal.
Even though Di Gule were arguably less dangerous in the second half, the likes of Emil Holten still had good opportunities to extend their lead, but manager Oscar Hiljemark will be pleased with his side's sixth victory in their last seven qualifying matches.
The hosts followed up their narrow win in the first leg with a 3-1 win against IFK Goteborg in the Allsvenskan on August 25, and are now two places and four points from third-placed Hammarby, who occupy the division's final Europa Conference League playoff spot.
Elfsborg have won 11 of their last 14 fixtures and have also won 11 of their last 12 home matches, with the side only conceding more than once at Boras Arena on one occasion in this period.
Opponents Molde will be disappointed that they lost at home, but are fortunate that their deficit is not insurmountable considering how poorly they defended in the first leg.
MFK were more threatening in the second half, but many of their chances came from set pieces, and they were rather timid from open play.
Boss Erling Moe's side bounced back from their defeat in the first leg with a 3-0 win against HamKam on August 25 in the Eliteserien, and are currently in fourth place with 34 points, occupying the division's last Conference League playoff spot.
Molde have lost two and won three of their last five matches, but in their most recent 10 games, Moe's team have won four times, drawn once and been beaten five times.
MFK have also lost three of their last four away games and have only kept three clean sheets in their last 12 fixtures on the road.
Elfsborg Europa League form:
W
W
W
D
W
W
Elfsborg form (all competitions):
D
W
W
D
W
W
Molde Europa League form:
W
L
W
L
L
Molde form (all competitions):
L
W
W
L
L
W
Team News
Elfsborg right-back Sebastian Ohlsson is unlikely to feature after he was substituted last time out against IFK Goteborg because of an injury.
Michael Baidoo and Ahmed Qasem could start in the forward line for the hosts, while Buhari Ibrahim and Terry Yegbe are probable candidates to start in defence.
As for the visitors, they come into Thursday's clash without striker Fredrik Gulbrandsen, who is now expected to be out until early September.
Elsewhere, defender Valdemar Lund is a doubt for the game after being substituted last time out against HamKam, and he could be replaced by Anders Hagelskjaer.
Elfsborg possible starting lineup:
Pettersson; Holmen, Ibrahim, Yegbe; Hedlund, Zeneli, Ouma, Hult; Qasem, Baidoo, Holten
Molde possible starting lineup:
Posiadala; Haugan, Oyvann, Hagelskjaer; Stenevik, Andre Kaasa, Daehli, Enggard, Lovik; Eriksen, Eikrem
We say: Elfsborg 2-1 Molde (Elfsborg win 3-1 on aggregate)
If Elfsborg can replicate their strong performance from the first leg, it is difficult to see how Molde can overcome their deficit.