Malky Thomson’s side are in the competition for the first time after their historic SWPL1 success last season and join Glasgow City in the competition.
The Gers are unseeded and enter through the Champions Path with teams drawn into knock-out mini tournaments, with two semi-finals before a final and third-placed playoff.
The winners of each mini-group progress to the second round and games will all be played at one venue over four days in August.
The other two sides in Rangers’ group are PAOK and Swansea City, with the Gers facing one of them in their second fixture in Group 2.
Rangers are one of ten sides making their debut in the competition, joining Brann, KuPS, Ljuboten, Lokomotiv Stara Zagora, Real Sociedad, Roma, Spartak Myjava, Tomiris-Turan and UKS SMS Łódź as first-time participants in Europe’s elite women’s competition.
Lyon won the 2021/22 Women’s Champions League, lifting the tropghy for the eighth time, as they beat holders Barcelona with a 3-1 victory in Turin in front of over 30,000 fans.
Last season’s SWPL1 runners-up Glasgow City are also in the competition, City taking part in the League Path in the opening round.
This year’s final will take place in Eindhoven on June 3 or 4.
Rangers Women’s Champions League fixtures
Rangers v Ferencváros – Semi-final – August 18
Rangers/Ferencváros v PAOK/Swansea City- Final/third-place playoff – August 21