After losing their first two games in the group, the hosts are on the brink of elimination, while Atletico are flying high, especially domestically.
Match preview
Another defeat here for Celtic will surely seal their fate after just three matches, so Brendan Rodgers must rally his troops for a big performance against one of Europe's most in-form sides.
Their opening two group defeats have continued a dreadful run in this competition which has seen Celtic win just one of their previous 23 group stage matches - losing 17.
Form at home was always going to be vital, and they are now without a home win in the Champions League for over a decade, since they beat Ajax here in October 2013 - drawing two and losing nine since.
The visit of Atletico is unlikely to be welcomed either given Celtic's recent record against Spanish sides, losing nine of their past 10 encounters.
Self-destruction and hard luck has been the story of their brief European campaign so far, as they had two men sent off at De Kuip as Feyenoord comfortably beat them 2-0.
There was then a rollercoaster of emotions when Lazio visited Celtic Park on matchday two, as Celtic lead early, thought they had grabbed a late winner before Luis Palma's goal was chalked off on VAR review, and their misery was compiled when Pedro netted a 95th-minute winner for the Italians.
Rodgers does at least have their domestic form to fall back on to keep spirits high, as Celtic continue to be dominant in Scotland, winning six in a row to maintain an early seven-point lead over Rangers.
Atletico have also won six in a row, but they have come in all competitions - scoring two or more on each occasion.
Antoine Griezmann remains in fine form, and it was hat-trick that fired Atleti to a 3-0 win at Celta Vigo over the weekend to keep them within three points of league leaders Real Madrid while still having a game in hand.
That fine run has also encompassed a 3-2 win over Feyenoord on matchday two of this competition - a hard-fought victory which saw Simeone's side come from behind twice.
A win was important after their trip to Rome on the opening matchday saw Atletico drop two points with the final kick of the game, with Lazio goalkeeper Ivan Provedel scoring an astonishing late equaliser.
Celtic Champions League form:
L
L
Celtic form (all competitions):
L
W
W
L
W
W
Atletico Madrid Champions League form:
D
W
Atletico Madrid form (all competitions):
W
W
W
W
W
W
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Team News
Celtic will be able to welcome back Gustaf Lagerbielke after he missed the defeat to Lazio following his sending off against Feyenoord.
The central defender was not in the squad for their win over Hearts on Sunday, but should be in high spirits after scoring his first international goal for Sweden last week.
Maik Nawrocki is likely to remain out with a muscle issue but is not too far away from a return, as fellow defender Stephen Welsh is also absent.
In attack, Marco Tilio and Liel Abada will be sidelined, with the former still waiting to make his debut after joining from Melbourne City.
Atletico are suffering from something of a crisis in defence, as Stefan Savic coming down with illness meant he missed the Celta win and makes him a doubt for this one.
With Jose Maria Gimenez and Reinildo also both out, Simeone will have been relieved to welcome Caglar Soyuncu back to the squad at the weekend after over a month on the sidelines.
Samuel Lino is set to miss out after he was taken off at half-time in Galicia with a knee problem, joining Memphis Depay and Thomas Lemar on the injury list.
Celtic possible starting lineup:
Hart; Johnson, Lagerbielke, Scales, Taylor; O'Riley, McGregor, Hatate; Maeda, Kyogo, Palma
Atletico Madrid possible starting lineup:
Oblak; Azpilicueta, Witsel, Mario Hermoso; Molina, Marcos Llorente, Koke, De Paul, Saul Niguez; Morata, Griezmann
We say: Celtic 0-2 Atletico Madrid
Failure to win in the Italian capital on matchday one means Atletico are winless in their last five Champions League group stage away games, but their recent form suggests they can end that run here.