If the Super Eagle is flashed a card on Thursday against Royal Antwerp in the last 32 of the competition, he will then miss the return leg at Ibrox on February 25.
Europa League suspensions are handed out to any player who collects three bookings in the tournament, however yellow cards which count towards suspensions are cleared by UEFA on completion of the quarter-finals.
Balogun picked up two yellows in the group stages during Rangers’ double header against Lech Poznan.
Balogun has played 21 times for Rangers in all competitions so far this term. He has started 19 of these games which include his five start in five Europa League games for Steven Gerrard’s side. He has also provided one assist which came in the 4-0 of Aberdeen last month.
The Nigerian has also received two yellow cards in all 21 games. The cards came in the Europa League games against Lech Poznan in October and December last year.