The two sides met in the League Cup semi-final last season with the Hoops coming out on top.
Lee Wallace has suggested that Sunday's Scottish Cup semi-final will not provide a major indication regarding whether the gap between Rangers and Celtic has closed since their last meeting, The Scottish Sun reports.
The Old Firm rivals' only encounter in the four years that the Light Blues have spent outside of the top flight came in last season's Scottish League Cup semi-final which Ronny Deila's men won fairly comfortably.
Ahead of this weekend's clash however, the Gers have clinched the Scottish Championship title and the Challenge Cup so have the momentum that they did not have last season - they won five of the 10 games leading up to the clash with the Hoops - but Wallace still believes that it will not be until the game becomes a league fixture from next term that assessments of the gap between the two sides can be made.
"We're in different leagues. Perhaps next season will be the time to determine that [the size of the gap between the two teams] when we are playing each other regularly," he told The Scottish Sun.
"When we played this fixture last season we were a bit low going into it. But we're in a good place, we've managed to secure a double in a short space of time and are high on confidence."
While Celtic look set to clinch the Scottish Premiership title in a fairly similar manner to last season - with Aberdeen drifting away in the final weeks of the campaign to arguably almost flatter the Hoops' performance throughout the year - Rangers are in a much stronger position this season than they were when they met the Bhoys last year, where they were 13 points adrift of top spot in the second tier.
Based on league position therefore, it appears that Rangers have closed the gap slightly. However, they will surely have to step their game up another few levels if they hope to cause an upset at Hampden Park.