Neil Lennon's side earned comfortable passage to the competition after easily defeating AIK 6-1 on aggregate in the play-off round.
They will come up against Cluj for the second time in European competition this season after losing to the Romanian outfit in Champions League qualifying.
The Scottish champions faced Rennes as recently as 2011 when the French side competed with Celtic in a Europa League group alongside Udinese and Atletico Madrid.
It will be the first meeting between Lazio and the Parkhead club in competitive football.
Lennon welcomed the draw. saying: "It’s a great draw. A couple of glamour games and the chance for some retribution against Cluj.
“Lazio is a great draw. A trip to Rome is something everyone will look forward to. I think we can make an impact in the group.”
The matches will be played on Thursdays from mid-September into early December. The dates are below...
19 September: Group stage, matchday one
3 October: Group stage, matchday two
24 October: Group stage, matchday three
7 November: Group stage, matchday four
28 November: Group stage, matchday five
12 December: Group stage, matchday six
16 December: Round of 32 draw, Nyon