Ten teams contested the league: Airdrieonians, Alloa Athletic, Clyde, Cove Rangers, Dumbarton, East Fife, Falkirk, Montrose, Peterhead and Queen's Park.
The following teams changed division after the 2020–21 season.
Promoted from League Two Relegated from the Championship Relegated to League Two Promoted to the Championship Teams play each other twice, once at home and once away.
The semi-finals were contested by the teams placed second to fourth in Scottish League Two, as well as the team placed ninth in Scottish League One.
The winners advanced to the final, with the highest-ranked team hosting the second leg.