Eddie Howe's men cross the border on the back of a 3-2 comeback win over Gateshead, while Michael Beale's team beat German third-tier side Hallescher 2-0 on Friday.
Match preview
Celebrating the long and esteemed career of 41-year-old goalkeeper McGregor, Rangers have attracted a sell-out crowd to Ibrox for the visit of Newcastle, as the Gers host their first testimonial match since John Brown was honoured in the same way 21 years ago.
Since ending their 2022-23 Scottish Premiership season as they mean to go on with four wins and a draw from their final five games, Rangers have drawn with Livingston and overcome Hallescher in their summer exhibition games, defeating the former thanks to a strike from Abdallah Sima and the customary James Tavernier penalty.
Ahead of his first full season in charge, Beale - who replaced ex-Netherlands defender Giovanni van Bronckhorst in November - will be under no illusion of the size of the task facing him, as Rangers quickly consign a trophyless 2022-23 campaign to the history books.
A total of 92 points in the Scottish Premiership was not enough to derail Ange Postecoglou's 99-point Celtic machine, while they suffered League Cup heartbreak to the Bhoys in the final and also lost in the semi-finals of the Scottish Cup to their Old Firm foes.
Following Tuesday's testimonial, Rangers will also strut their stuff against Hamburger SV, Olympiacos and Hoffenheim before the end of the month, ahead of their 2023-24 Scottish Premiership inauguration away to Kilmarnock on August 5.
Similarly, Newcastle make the 151-mile trek north having added a first win of pre-season to their notebook, but for a short while, Gateshead were on course for a giant killing against their near-neighbours as Marcus Dinanga and Stephen Wearne propelled the non-league side into a 2-0 lead by half time.
However, Howe inevitably rang the changes for the second half, where strikes from Elliot Anderson, Allan Saint-Maximin and Jay Turner-Cooke completed a thrilling turnaround for the Magpies at the Gateshead International Stadium.
Howe did not hesitate to admit that his "leggy" side showed signs of rustiness, but the cobwebs should be blown off soon as Newcastle ramp up their pre-season preparations in the coming weeks; a trip to the USA awaits the Champions League contenders after Tuesday's game.
Forming part of the Premier League Summer Series, Aston Villa, Brighton & Hove Albion and Chelsea will also fly over the Atlantic to face Newcastle in North America, before Fiorentina and Villarreal test the Magpies' continental mettle in their final two pre-season friendlies.
Rangers and Newcastle have only ever locked horns competitively during the 1969 Fairs Cup, where the Magpies posted a 2-0 aggregate win in the semi-finals before going on to thump Hungary's Ujpesti Dozsa in the final, but the Scottish side did edge a 2010 friendly 2-1.
Rangers friendly form:
Newcastle United friendly form:
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Team News
Stepping out onto the field to the roar of the Ibrox faithful, McGregor will don the gloves for Rangers on his special occasion, but Beale still has a handful of injury concerns to work around ahead of the new term.
Steven Davis and Connor Goldson remain on the long road to recovery from their respective knee problems, while Leon King picked up a severe ankle injury in training last week and could now miss a few months of action.
A significant summer of change in Glasgow has seen all of Alfredo Morelos, Ryan Kent, Antonio Colak, Filip Helander and Scott Arfield bid their farewells, but Cyriel Dessers, Sam Lammers, Jack Butland, Dujon Sterling and Kieran Dowell have all touched down at Ibrox, although the former did not play any part against Hallescher.
Similarly, Newcastle's treatment room is also well-occupied at present, as all of Nick Pope (wrist), Jamal Lewis (knee), Jamaal Lascelles (muscle), Emil Krafth (ACL), Joe Willock (thigh) and Jacob Murphy (shoulder) are out of contention.
International representatives such as Bruno Guimaraes and new arrival Sandro Tonali were seen in the stands at the Gateshead International Stadium, having only just returned to training that day, so there is a slim chance that Howe could welcome back some of his big-hitters here.
Tonali may therefore be considered for his debut off the bench, while Joelinton, Sven Botman, Alexander Isak, Fabian Schar and Miguel Almiron could also build up their fitness levels with cameo appearances at Ibrox.
Rangers possible starting lineup:
McGregor; Tavernier, Souttar, Balogun, Barisic; Jack, Lundstram, Hagi; Sima, Lammers, Cantwell
Newcastle United possible starting lineup:
Darlow; Trippier, Manquillo, Burn, Targett; Anderson, Longstaff, Ritchie; Saint-Maximin, Ndiweni, Turner-Cooke
We say: Rangers 2-1 Newcastle United
While there will no doubt be an air of celebration on Tuesday as McGregor basks in adulation, both Rangers and Newcastle ought to show a competitive edge when the first whistle is blown as the two outfits seek to lay down a marker ahead of a new season.
The Magpies were fortunate to come away from their clash with Gateshead on the winning side, and while a few of their first-team regulars could be back in the fold here, a near full-strength Rangers could edge a tight contest.