Record Sport can reveal the prolific Australian - who smashed the 30-goal barrier in his debut season at Parkhead - will wear the No.7 top as he gears up to fire Gordon Strachan's side towards a fourth consecutive SPL crown.
McDonald is believed to be thrilled at the gesture which came about during his recent contract extension talks.
He was a £650,000 snip from Motherwell last summer but proved his weight in goals in a sensational first season at the club and earned himself a bumper new pay deal after discussions with chief executive Peter Lawwell.
Now he's also landed the shirt of former Celtic great Larsson into the bargain.
Comparisons have already been drawn between the iconic Swede and McDonald in terms of their pound-for-pound value.
Larsson's shirt has proved too big in the past for successors Juninho, who bombed after a much-heralded move from Middlesbrough, and Polish captain Maciej Zurawski, who also failed to live up to his big billing in Glasgow's East End.
Now McDonald will become the third player to attempt to fill Larsson's shirt, which has not been worn since Zurawski left for Greece six months ago.