The Foxes are preparing for their first campaign among Europe's elite having won a shock Premier League title last season.
Leicester are one of the top seeds having won the league by 10 points in May and Ranieri believes they will be massive underdogs in Europe this year.
He said: "All the other teams are hoping to choose Leicester, it's normal
We fight
When you see the first group there are a lot of big teams and then 'who is that? Leicester?'
It's okay
Between us and the others they choose Leicester.
"The approach depends on many things
You have to play before these matches and how you approach depends on opponents, many things."
The draw for the Champions League happens in Monaco on Thursday evening with the Foxes potentially facing Ranieri's former clubs of Atletico Madrid, Napoli or Monaco
Meanwhile, Nampalys Mendy is out of Saturday's game against Swansea at the King Power Stadium after suffering an ankle injury in last weekend's 0-0 draw with Arsenal.
Leicester are hunting their first win after picking up only one point in their opening two Premier League games and Ranieri remains focused on his survival target.
"I am very focused to achieve 40 points, this is our target
It's the same target of last season, we don't change our minds and it's important to be focused on our job," he added.
"It's not so stressful
It's good to get points - we're at home, we want to win
It will be a different game from last season."
Source : PA
Source: PA