The two clubs will both kick-off at 3pm on Saturday in their final pre-season fixtures ahead of the new Scottish Premiership campaign starting the following week.
Celtic host Norwich City at Parkhead while Rangers entertain Tottenham at Ibrox with large crowds expected at both matches. It is the first time the Old Firm rivals have played in Glasgow concurrently since January 23, 1999, when Celtic defeated Airdrie and Rangers beat Stenhousemuir in Scottish Cup ties.
The clubs are generally scheduled to play at home on different days to avoid issues with policing, public transport and traffic congestion. However, chief superintendent Mark Sutherland has insisisted plans are in place to cope with the unusual situation.
"We are aware of the upcoming football fixtures in Glasgow on Saturday, 23 July, 2022," he said.
"We are working with a range of partners including both Celtic and Rangers Football Clubs to ensure an appropriate plan is in place that delivers safe and secure events and reduces disruption to the wider public."
Rangers kick off their new league campaign away to Livingston next Saturday, July 30, before Celtic get their season underway against Aberdeen at Pittodrie the following day.