Neville backed Man United to finish in the Premier League top-four, adding that they are nowhere near the title this season.
Last season, Man United finished in the second position on the Premier League table behind champions Manchester City.
But Rangnick’s side are currently behind leaders Man City, Liverpool, Chelsea and Arsenal on the log this season.
Speaking on Monday Night Football before Man United’s clash with Newcastle, Neville said: “It feels like the season is restarting, having been off for a few weeks. Ralf Rangnick has had a good start and has sorted that Man United defence out in many ways.
“They’re nowhere near the title, but their aspirations have got to be to get in the top-four.
“They have got to try and grab Arsenal and Tottenham. I am excited about tonight because there is a bit of uncertainty. Not playing for 16 days is really unique at this time of year.”