1.
do (something) in advance; do in preparation
Te-form of a verb plus 置く. Says that an action is done ahead of time so that things will be ready later: 切符を買っておく (buy the tickets in advance).
2.
leave (something) in its current state
The same form also means to let a state continue rather than change it: 窓を開けておく (leave the window open), そのままにしておく (leave it as it is).