Ongoing fluctuations in neural excitability and in network-wide activity patterns before stimulus onset have been proposed to underlie variability in near-threshold stimulus detection paradigms, i.e. whether an object is perceived or not. Here, we investigated the impact of pre-stimulus neural fluctuations on the content of perception, i.e. whether one or another object is perceived. We recorded neural activity with magnetoencephalography before and while participants briefly viewed an ambiguous image, the Rubin face/vase illusion, and required them to report their perceived interpretation on each trial. Using multivariate pattern analysis, we showed robust decoding of the perceptual report during the post-stimulus period. Applying source localization to the classifier weights suggested early recruitment of V1 and ~160 ms recruitment of category-sensitive FFA. These poststimulus effects were accompanied by stronger oscillatory power in the gamma frequency band for face vs vase reports. In pre-stimulus intervals, we found no differences in oscillatory power between face vs. vase reports neither in V1 nor in FFA, indicating similar levels of neural excitability. Despite this, we found stronger connectivity between V1 and FFA prior to face reports for low-frequency oscillations. Specifically, the strength of pre-stimulus feedback connectivity (i.e. Granger causality) from FFA to V1 predicted not only the category of the upcoming percept, but also the strength of post-stimulus neural activity associated with the percept. Our work shows that pre-stimulus network states can help shape future processing in category-sensitive brain regions and in this way bias the content of visual experiences.