The clash will take place at the home of the champions, Celtic Park, and will be the first chance to see the Scottish Premiership title rivals go head-to-head in the 2022/23 campaign.
It was Ange Postecoglou's side that came out victorious in the Scottish title race last term, beating their rivals by four points as they ended the campaign as champions.
With Rangers winning it in 2020/21 under Steven Gerrard before he left for Aston Villa, both sides will harbour genuine ambitions of coming out on top and proving themselves as the best that Scotland have to offer.
While played out over a 38-game season, the Scottish Premiership title race often boils down to the four Old Firm fixtures that are scheduled throughout the year.
The final fixture date will be revealed following the SPL split after 33 games, however fans of Celtic and Rangers already have three major dates for their diary.
In addition to the clash at Parkhead on September 3, the Old Firm rivals will face off at Ibrox in a match scheduled for Monday, January 2.
They'll then meet once again before the split at Celtic on Saturday, April 8.
However, there will be plenty of football to be played before then.
The Bhoys will get their season underway with a home fixture against Aberdeen on Sunday, July 31 with a scheduled kick-off time of 4.30pm.
They'll then face back-to-back away fixtures as they take on Ross County on Saturday, August 6 and Kilmarnock at Rugby Park on Saturday, August 13.
Meanwhile, title challengers Rangers will start their campaign with a trip to Livingston on Saturday, July 30 with a scheduled kick-off time of 12pm.
They'll then enjoy their first home fixture of the season when they take on Kilmarnock at Ibrox on Saturday, August 6 before welcoming St Johnstone the following week.