The home side must overturn the deficit if they are to advance to the next stage of the Champions League after losing 4-1 last week on July 23 at Eleda Stadion.
Match preview
The hosts' 4-1 defeat represents their joint-biggest Champions League loss as well as the most goals they have ever conceded in a single game in the competition.
In fact, it was also the most goals Klaksvik have conceded in any match since July 15, 2021, a run of 117 matches.
The last time they won by a margin of at least three goals was May 26, when they defeated B68 Toftir 4-0.
Manager Haakon Lunov will be bitterly disappointed that his side were only able to generate four shots with just two on target in the first leg.
His side's home record in the Champions League has been quite strong, with just one loss in seven matches at Vid Djupumyraron.
In all competitions, Klaksvik have won eight of their last 10 matches at home and have scored 28 times in this period.
Opponents Malmo have a mixed away record, and have won three of their last seven matches on the road, drawing two and losing two in those fixtures.
However, their away record in the Champions League is considerably worse, and they have failed to win any of their last six away games, losing five times and conceding 15 goals in the process.
Regardless, manager Henrik Rydstrom will still be confident of victory given the dominant nature of their performance in the first leg.
Malmo had 60% possession and used their time on the ball very effectively, generating 19 shots and 11 efforts on target.
Rydstrom's side held a 3-0 lead at half time thanks to one goal from Hugo Bolin and two from Lasse Berg Johnsen.
Although Klaksvik did pull one back in the 71st minute thanks to Arni Frederiksberg, substitute Soren Rieks restored Malmo's three-goal advantage in the 85th minute.
KI Klaksvik Champions League form:
W
D
L
KI Klaksvik form (all competitions):
Malmo Champions League form:
W
Malmo form (all competitions):
D
W
L
W
W
L
Team News
Klaksvik boss Lunov could have a selection dilemma ahead of him, as while he will not want to name a weakened team and surrender to Malmo, his side's league season does resume on August 4.
Given the margin of their deficit, it would not be a surprise to see the hosts field a strong starting XI, but if no progress has been made by half time, Lunov may well call on his substitutes.
Goalscorer Arni Frederiksberg can be expected to start in the forward line, while goalkeeper Mark Jensen will likely be protected by centre-backs Cedric Yambere, Odmar Faero and Alexander Berntsson.
The visitors lost 1-0 last time out on July 27 against Sirius, but they did make four changes from the team that beat Klaksvik 4-1.
It would not be a surprise to see these four players come back into the team on Tuesday, even if they are subbed off early due to the comfortable lead that Malmo hold.
As such, expect right-back Jens Stryger Larsen and midfielders Hugo Bolin and Lasse Berg Johnsen to come back into the team, as well as forward Erik Botheim.
KI Klaksvik possible starting lineup:
Jensen; Yambere, Faero, Berntsson; Danielsen, Ejupi, Pavlovic, Kronberg; Frederiksberg, Klettskard, Odemarksbakken
Malmo possible starting lineup:
Dahlin; Larsen, Jansson, Zatterstrom, Busanello; Bolin, Johnsen, Pena, Nanasi; Botheim, Thelin
We say: KI Klaksvik 1-3 Malmo (Malmo win 7-2 on aggregate)
Although Malmo's away record has been mixed of late, it is difficult to ignore the fact they are leading the tie by three goals.