With the Third Division side still awaiting completion of their Scottish FA membership application, the first home tie of the season for the Ibrox side on the 4th August will be a money-maker for East Fife.
First Minister Alex Salmond conducted the draw at Ochilview on behalf of the Scottish Government who continue to sponsor the competition for a further season.
Dundee – who replaced Rangers in hte SPL – also enter the first round of the competition as they will face Third Division side Peterhead.
The likes of relegated Dunfermline – who were denied re-entry into the SPL – and cup holders Kilmarnock and those SPL clubs not in Europe will enter the competition at the second round stage. While Celtic, Motherwell, Dundee United, Hearts and St.Johnstone will make their entrance in the third round.
The Full draw:
Queen of the South v Alloa Athletic
Stranraer v Livingston
Raith Rovers v Berwick Rangers
Peterhead v Dundee
Stenhousemuir v Brechin City
Montrose v Cowdenbeath
Ayr United v Clyde
Queen’s Park v Airdrie United
Dumbarton v Albion Rovers
Forfar Athletic v Partick Thistle
Falkirk v Elgin City
Rangers v East Fife
Hamilton Academical v Annan Athletic
East Stirlingshire v Morton
Arbroath v Stirling Albion
Ties are set to be played on August 4.