The Matildas, who will make their third appearance at the Games after competing in 2000 and 2004, will begin their Rio Games campaign against world number 10 ranked Canada on Wednesday 3 August in Sao Paulo as they attempt to claim Australia's first ever football medal at the Games.
The 12 teams that qualified for the Rio Games were split into four pots for the draw with the Matildas placed in Pot 2 with France and Sweden, the allocation based on the latest FIFA Women's World Rankings (FIFA also has a general principle for the draw to undertake best endeavours to ensure no group has more than one team from the same confederation).
The top two teams from each group along with the two best third ranked teams will qualify for the quarter-finals.
Matildas coach Alen Stajcic, who attended the draw in Rio de Janeiro, says the team is ready to make its mark on the world stage.
"It's an exciting draw playing Canada first up and then another top 10 team in Germany before facing Zimbabwe," said Stajcic.
"It's a very exciting group and we know that if we play to our potential we can be really competitive.
"We have taken some significant steps forward in the past 12 months and we will head to Rio with a real belief that we can challenge for medals.
"The chance to compete at the Olympics only comes around every four years and we are determined to make the most of this opportunity. We have an extremely talented group and we showed in the qualifiers the type of football we can play so we are confident we can match it with anyone and we will give it our all when we get to Brazil."
Rio Games Women's Football Tournament – Australia's group matches:
Canada v Australia (Corinthians Arena, Sao Paulo) - Wednesday 3 August 2016
Germany v Australia (Corinthians Arena, Sao Paulo) - Saturday 6 August 2016
Australia v Zimbabwe (Fonte Nova Arena, Salvador) - Tuesday 9 August 2016