Born in Leskovac, Ranđelović came through the youth categories of the local club Sloga Leskovac.[2] In summer 2015, he moved to the Serbian League East side Jedintvo Bošnjace. Playing with the club he appeared scored a single goal on 21 match in the during the 2015–16 campaign. Next he joined Radan Lebane, where he played for the rest of 2016, making 15 appearances with 4 goals.[3]
Radnički Niš
After passing trial in early 2017,[4] Ranđelović signed his first four-year professional contract with the Radnički Niš, and shortly after he was loaned to Car Konstantin until the end of the 2016–17 season.[5] Returning from loan, Ranđelović passed the summer pre-season with Radnički after which he was also licensed for the competitive matches.[6] He made his professional debut in the opening fixture of the 2017–18 Serbian SuperLiga campaign, replacing Marko Mrkić in the 73rd minute of the away game against Red Star Belgrade.[7]
He then moved on loan to the Serbian First League club Dinamo Vranje, where he scored 9 goals on 26 matches and contributed to their promotion to the top tier.[8]
Olympiacos
On 30 August 2018, Ranđelović signed with Greek club Olympiacos for an undisclosed fee. It was a agreed that he would stay with his former club Radnički Niš on loan for the 2018–19 season.[9]
By the end of the 2018–19 season, he scored a total of seven goals and made eight assists, convincing Olympiacos to bring him back from loan.
Loan to Ural Yekaterinburg
On 9 September 2022, Ranđelović signed with Russian Premier League club Ural Yekaterinburg.[13] On 14 June 2023, Ural announced that Ranđelović is returning to Olympiacos as his transfer was a loan.[14]
Loan to Leganés
On the deadline day of the 2021 summer transfer window, Ranđelović moved to Spanish Segunda División side Leganés on a one-year loan deal.[15]
Loan to Rubin Kazan
On 14 September 2023, Ranđelović returned to the Russian Premier League and signed with Rubin Kazan until the end of the 2023–24 season on loan.[16] On 20 June 2024, Ranđelović left Rubin as his loan period expired.[17]
^"Ranđelović, Lazar". Serbian First League official website (in Serbian). 21 August 2017. Archived from the original on 1 August 2018. Retrieved 3 August 2018.