The midfielder has been accused of a variety of offences by the governing body's compliance officer Vincent Lunny. He is alleged to have bet on the team he was playing for not winning a game on three occasions.
The 28-year-old is also said to have bet on a team he was registered with 10 times and on other games on 147 different occasions, with all three alleged offences taking place over a seven-year period between March 4, 2006, and July 28, 2013.
Black is charged with betting on matches involving Inverness Caledonian Thistle, Hearts and Rangers. It is unknown if Rangers is one of the clubs he is alleged to have bet on not winning a game.
However, the Ibrox club's match with Albion Rovers in the Ramsdens Cup - a game Ally McCoist's team won 4-0 in which Black scored - at the end of last month is believed to be one of the games involved.
He faces a fine, a fine and a suspension or even a complete ban from Scottish football if he is found guilty.
Black's punishment would be at the discretion of the disciplinary panel.
Footballers registered in Scotland are banned by the SFA from betting on any football match.
The controversial player, who was capped for Scotland at the start of last season, has not been accused of match fixing.
The SFA statement said: "There is no evidence to suggest any breach of Disciplinary Rule 23."
Disciplinary Rule 23 states: "No club, official, Team Official, other member of Team Staff, player, match official or other person under the jurisdiction of the Scottish FA shall knowingly behave in a manner, during or in connection with a match in which the party has participated or has any influence, either direct or indirect, which could give rise to an event in which they or any third party benefits financially through betting."
Rangers made a brief statement, saying: "The club is aware of the SFA's notice of complaint and are currently investigating the matter."
However, it is not known if Black still be involved in the first team while the charges are hanging over him.
Ally McCoist's team take on Airdrieonians away in League One at the Excelsior Stadium in a live televised fixture on Friday night.
Black, who has until Monday to respond to the claims, has featured regularly for the Third Division champions this season and has performed well in central midfield.
Steve Jennings continued to play for Motherwell after being arrested along with eight other men on suspicion of conspiracy to defraud in October 2011.
Jennings was red carded for dissent in December 2010, but was eventually cleared by Merseyside Police.
Meanwhile, Republic of Ireland youth internationalist Sam Kelly has started a trial with Rangers.
The 19-year-old arrived at Murray Park yesterday and will train with the Glasgow club this week.
The midfielder was released by Everton, where he played for the under-21 team, in the summer after a year.
He had previously been with Norwich City.
The left-footed player has been involved with the England youth set up in the past and was named in an under-19 squad as recently as this year.
English goalkeeper Steven Simonsen is currently in the second week of a trial with the Gers.