The need for effective training of cyber security personnel working in critical infrastructures and in the corporate has brought attention to the evolution of Cyber Ranges (CRs) as learning and training tools. Although CRs have been organized for many years, there is a lack of standards and common methodologies that facilitate their development and optimize their effectiveness. Aiming at strengthening cyber security education and research that utilize well designed CRs, we first analyze the CRs domain to identify key characteristics, strengths and fundamental weaknesses, and based on these outcomes we propose the Cyber Range Design Framework (CRDF), which includes the CR Architecture and the CR Life-Cycle. The CR Architecture presents the main components of CRDF compliant CRs, whereas the CR Life-Cycle presents the development phases of such approaches and the activities these phases embrace. CRDF builds on the Conceptual Framework for eLearning and Training (COFELET) and on the Exercise Life-Cycle. COFELET is particularly elaborated for the development of cyber security educational approaches, by adopting its design considerations that were based on widely adopted educational theories and approaches (e.g., scenario-based, reuse of elements). CRDF envisages the elaboration of CRs which optimize their impact, mitigate their weaknesses, and minimize their preparation and running costs. Under this prism, a preliminary appreciation of the CRDF approaches effectiveness is presented along with the expected outcomes of such approaches.