Alex McLeish's side recentley won the Scottish Premier Divison title after Celtic dropped points on the Final Weekend in a suprise defeat to Motherwell on which Rangers took full advantage of by beating Hibernian by a single goal on the final day.
Speaking of the prospect of taking on the Scottish Champions, Town boss Joe Royle told the Official Club Website: "It's fantastic news and I'm really looking forward to it.
"They will come here as Champions and I'm sure every Rangers fan in southern England that can't get to Glasgow every week will want to see them here at Portman Road.
"They will bring their galaxy of stars and maybe even some new players as well so it's a very exciting game for us, a game that any club would welcome as a pre-season friendly."