The 27-year-old midfielder is expected to sign a three-year deal, although the move may not be officially confirmed until next week as he needs a work permit.
Rangers had agreed a deal in principle with Pena’s Mexican club Chivas Guadalajara prior to him travelling to Scotland. He was shown around the Rangers training centre and Ibrox yesterday before a medical.
Pena is known to Rangers manager Pedro Caixinha from his time in charge of Mexican side Santos Laguna and was one of his top targets as he looks to reshape his squad for next season.
Portuguese international central defender Bruno Alves arrived from Cagliari on a two-year deal this week and former Aberdeen midfielder Ryan Jack has signed a three-year contract.
Rangers, who play their first Europa League qualifier on 29 June, are understood to have lodged a bid of close to £1 million for Norwich City’s Scotland midfielder Graham Dorrans and are optimistic they will succeed in their pursuit of the 30-year-old.
Caixinha is also keen to tie up deals for two more of his compatriots who are currently on the books of Benfica – 29-year-old winger Daniel Candeias, who spent this season on loan at Turkish club Alanyaspor, and 21-year-old striker Dalcio.
Pena is a box-to-box midfielder with an eye for goal. He has spent all of his career so far in Mexico, first of all with Pachuca before moving to Leon in 2011 where he helped them win the country’s second-tier title the following year. Pena went on to win the Mexican League crown with Leon in 2014, when he was also part of his nation’s squad at the Brazil World Cup.
After joining Chivas, he struggled to make an impact and was loaned back to Leon last season.
Capped 19-times, he has recently dropped out of the Mexico squad but Rangers are confident of getting a work permit. They have received a letter in support from Chivas coach Matias Almeyda, the former Lazio, Inter and Argentina midfielder.