Shelbourne will play Linfield in the first round of Champions League qualifying.
The champions of Republic of Ireland and Northern Ireland will clash over two legs following the draw in Nyon this afternoon.
Damien Duff's side entered the draw as an unseeded side, with the Blues the best opponent on paper at least.
The matches will take place on 8 or 9 July with the second legs a week later.
The first leg will be held at Tolka Park.
Winning the first round is all-important as that would provide two more chances to come through qualification if you're beaten, be it in the Europa League or Conference League.
The Reds are guaranteed over €1m in prize money, while reaching the league phase would offer multiples of that figure.
Last year saw an all-Irish clash in Europe between the respective league winners, as Shamrock Rovers defeated Larne 4-1 in a Conference League clash.
Reds boss Damien Duff said: "It is brilliant day for everyone at the football club, especially for those who have been through the dark times.
"Players and staff watched the draw together and there is already a great buzz at the prospect of an All-Ireland derby."
Meanwhile St Patrick's Athletic will play FC Hegelmann of Lithuania in the first round of Conference League qualifying.
Hegelmann finished second in the A Lyga last year.
They were only promoted to the top flight four years ago and have played just one European tie in their 16-year history, losing 5-0 to Macedonian side FC Shkupi in 2023.
However, they are joint-top of their league 15 matches into this campaign.
Stephen Kenny's side are set to play the first leg at home on 10 July before visiting Kaunas on 17 July.
The Hoops have gone straight into the second round, following Drogheda United's exclusion from the competition.
Drogheda were due to enter the second-round draw but will not compete in Europe after a UEFA ruling on multi-club-ownership rules. The club appealed that decision to the Court of Arbitration for Sport but were unsuccessful in their bid to have it overturned.
As a result Rovers replace Drogheda and go straight into the second-round draw, as do Albanian side FC Dinamo City.
Reaching the second round provides over half a million euro for the Irish clubs.
The draw for the second rounds of both competitions is on Wednesday.
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