Oswalt, who was signed as a free agent by the Rangers on May 29, made two previous starts for Triple-A Round Rock as he prepares for his return to the majors. He is scheduled to throw 80 pitches for the RoughRiders.
Oswalt, a 34-year-old right-hander, made 23 starts last year for the Philadelphia Phillies but did not sign with any team during the offseason.
Before his first start for Round Rock, Oswalt said he'd need four minor league starts before joining the Rangers.
The Rangers' starting rotation has been hit by injuries lately. Neftali Feliz (elbow) and Derek Holland (shoulder) are on the disabled list, and replacement starter Alexi Ogando left Sunday's start against the San Francisco Giants after three innings with a right groin injury and is scheduled for an MRI on Monday.
Information from The Associated Press was used in this report.