However, the visitors have the chance to move level on points with their hosts as both clubs look to move a step closer to progression to the Europa League knockout stages.
Match preview
On the back of recording impressive victories over Trabzonspor and Monaco, Ferencvaros would have had high hopes of extending their winning streak when travelling to Serbia to face Red Star last week.
However, the Hungarian giants were blown away by their hosts, conceding four goals in the opening hour to succumb to a 4-1 defeat in Belgrade.
Although Stanislav Cherchesov's side remain in first place in the group, momentum has been lost and Ferencvaros are now also at risk of dropping out of the qualification places.
If they lose for a second time in quick succession on Thursday and Monaco defeat Trabzonspor in Turkey, the Green Eagles will be left as outsiders to make the last 32.
On a more positive note, they returned to winning ways on the domestic scene on Sunday, recording a 2-0 win over Debrecen to sit two points clear in first position.
Meanwhile, Red Star could have been down and out in Group H having lost each of their opening two matches in this group, scoring just one goal in the process.
However, they are now very much a threat to the higher-profile clubs, particularly with a home fixture against Trabzonspor still to come on matchday five.
Even Milos Milojevic would have been skeptical over whether his side were capable of outplaying Ferencvaros before last week's game, and the mood has changed to such an extent where there will be a disappointment if they do not earn at least a share of the spoils in the reverse fixture.
The Red-Whites have now put together a five-match winning streak in all competitions, the only goal conceded during that time being Ferencvaros' consolation effort.
Ferencvaros Europa League form:
W
L
W
W
L
Ferencvaros form (all competitions):
L
W
L
W
W
L
Red Star Belgrade Europa League form:
L
L
W
Red Star Belgrade form (all competitions):
W
L
D
L
L
W
Team News
Cherchesov made the decision to freshen up his side at the weekend, and some of the players who were recalled could retain their places.
Balint Vecsei appears likely to feature in central midfield, while Ryan Mmaee is pushing to take Franck Boli's spot down the centre of the attack.
Amer Gojak is also an option in a creative area, but the remainder of the team could stay the same.
Red Star will be able to call upon Kings Kangwa after he served his one-match ban for a sending off against Trabzonspor on matchday two.
However, barring any injury issues, Milojevic may be prepared to line up with the same side which brushed Ferencvaros aside in Serbia.
Ferencvaros possible starting lineup:
Dibusz; Wingo, S.Mmaee, Knoester, Botka; Besic, Vecsei; Traore, Zachariassen, Nguen; R.Mmaee
Red Star Belgrade possible starting lineup:
Borjan; Gobeljic, Erakovic, Dragovic; Rodic; Sanogo, Kanga; Mitrovic, Katai, Ivanic; Pesic
We say: Ferencvaros 2-1 Red Star Belgrade
Given the level of their performance last week, Red Star will be provided with the respect that they deserve. However, Ferencvaros will welcome a return to familiar territory, and we feel that they will do enough to claim a potentially-pivotal victory in this group.