Caley Thistle lifted the Scottish Cup last season.
A trip to Falkirk to face last season’s Scottish Cup finalists Falkirk is on offer for either Turriff United or Fraserburgh.
The Highland League sides will meet on Saturday after last week’s second round tie was postponed with the winner taking on the Bairns in the third round of this season’s competition.
Formartine United’s reward for dumping Barry Ferguson’s Clyde out of the competition is a home tie against either Fort William or Cove Rangers.
Buckie Thistle face a lengthy journey to Stranraer, while Peterhead host Livingston and Elgin City take on Raith Rovers at Borough Briggs.
William Hill Scottish Cup third round draw
Stranraer v Buckie Thistle
Queen’s Park v Forfar
Formartine United v Fort William/Cove Rangers
Dumbarton v Alloa
East Fife/Stirling Albion v Cumbernauld Colts
Albion Rovers v Greenock Morton
Falkirk v Turriff United/Fraserburgh
Wick/Nairn v Linlithgow Rose
Peterhead v Livingston
Huntly v Lothian Thistle/Montrose
Elgin City v Raith Rovers
Airdrie v Brechin City
Ayr United v Dunfermline Athletic
Inverurie Locos v Annan Athletic
Stenhousemuir v East Kilbride/ Forres Mechanics
Cowdenbeath v Arbroath
Scottish Cup finalists to face Highland League opposition
