Rangers will face Kenny Dalglish's Liverpool in a friendly at Ibrox Stadium on Tuesday 18 October.
Charlie Adam and Danny Wilson will return to Ibrox for the first time since leaving Rangers.
Rangers manager Ally McCoist said the club were looking forward to facing "world-class players".
"We look forward to welcoming Charlie and Danny back and I'm sure fans will turn out in numbers to watch us against such a high-profile side," he said.
Defender Wilson moved from the Scottish champions to Anfield in 2010, while midfielder Adam joined his fellow Scotland international at the Barclays Premier League club this summer via a spell at Blackpool.
The two clubs have arranged the friendly as they seek added income to compensate for the lack of European competition this season.
Liverpool failed to finish high enough last season to qualify for either the Champions League or Europa League.
Scottish champions Rangers lost to Malmo in Champions League qualifying and then failed to overcome Maribor in their attempt to reach the Europa League group stage.