Some demonstrative embodiments include apparatuses, systems and/or methods of Multi-User (MU) ranging measurement. For example, an apparatus may include circuitry and logic configured to cause a wireless station to generate a plurality of sounding sequences corresponding to a plurality of stations (STAs), the plurality of sounding sequences including at least first and second different sounding sequences, the first sounding sequence corresponding to at least one first STA of the plurality of STAs, the second sounding sequence corresponding to at least one second STA of the plurality of STAs; during a Multi-User (MU) ranging measurement, to transmit a MU frame to indicate a MU Downlink (DL) transmission; and, following the MU frame, to transmit a MU DL Null Data Packet (NDP) transmission to the plurality of STAs, the MU DL NDP transmission including a plurality of Long Training Fields (LTFs) including the plurality of sounding sequences.