The Matildas will have Germany and the USA between them and the knockout stages of the Paris 2024 Olympics later this year.
The Australian team has drawn the numbers four and five-ranked teams in the world in Group B.
One of Morocco or Zambia will round out the group, with qualification yet to be completely finalised.
Newsletters: Our top sports news direct to your inbox. Subscribe now
Morocco are sitting at 58 in the FIFA rankings while Zambia are further down at 65.
But the No.12-ranked Matildas will likely have to usurp at least one of five-time world champions America, or Germany, the only other nation to have lifted the World Cup more than once, to progress through the group stage.
The 12 women’s national teams have been split into three groups of four. The top two teams from each group will guarantee themselves a place in the knockout stage, while the two best third-placed teams will also progress.
From that point onwards, the tournament will follow a standard knockout format until the final.
Matildas name squad for Mexico friendly
Meantime, Cortnee Vine’s blistering form for Sydney FC has been rewarded with a recall for the Matildas’ April friendly against Mexico.
Vine withdrew from February’s Olympic qualifiers against Uzbekistan for personal reasons.
But with six goals and three assists in her past five A-League Women games, the 25-year-old winger made an irresistible case for a recall against world No.31 Mexico.
Leicester City defender Courtney Nevin, who was left out of last month’s qualifiers, has also been recalled to Tony Gustavsson’s 23-player squad.
There was no room for in-form Melbourne Victory striker Emily Gielnik or Western Sydney Wanderers forward Sophie Harding, who was a train-on against Uzbekistan.
Chloe Logarzo (hip) drops out, while Lydia Williams (ankle) and Charlie Rule (hip) remain sidelined along with Sam Kerr (anterior cruciate ligament).
The game — which takes place in San Antonio, Texas, on April 10 Australian time — kicks off the Matildas’ preparations for the Olympics and doubles as a rare audition for the 18-player squad for the Paris Games.
Mexico, who beat the United States 2-0 in the group stage at the recent continental Gold Cup, will pose a stern test for Gustavsson’s charges.
Ahead of Thursday’s Olympics draw, Gustavsson said the squad rewarded players for their individual performances, while focusing on squad connection and chemistry.
“Following the achievement of Paris 2024 qualification, our attention turns fully to ensuring the best preparation in terms of matches and training activity for the Olympics,” Gustavsson said.
“With our opponents revealed at the Olympic draw this Thursday, our extremely challenging assignment over the coming months, and next two FIFA international windows, is to narrow down on the final 18 players that will provide the best chance for success.
“That those decisions will be difficult speaks to the genuine depth and competition for places that we have created over the past three years.
“Unfortunately, due to limited roster spots for the Olympics, that results in some very good players in strong form missing out on selection for this window and for the Olympics.
“The upcoming international against Mexico will see one eye on preparation mode against a quality opponent … while also continuing to implement our evolving playing style ahead of what will be a very competitive Olympic tournament.”
Full squad:
Goalkeepers: Mackenzie Arnold, Teagan Micah, Jada Whyman
Defenders: Ellie Carpenter, Steph Catley, Charli Grant, Clare Hunt, Alanna Kennedy, Aivi Luik, Courtney Nevin, Clare Polkinghorne, Kaitlyn Torpey
Midfielders: Kyra Cooney-Cross, Mary Fowler, Katrina Gorry, Amy Sayer, Emily van Egmond, Clare Wheeler, Tameka Yallop
Forwards: Caitlin Foord, Michelle Heyman, Hayley Raso, Cortnee Vine.
– With AAP