The 21-year-old centre-back will see his current deal expire at the end of the campaign and the club are keen to offer him improved terms.
Bates was rewarded with the Sky Sports man-of-the-match award in the aftermath of last Saturday’s Old Firm derby at Celtic Park.
The young stopper stepped into the breach when Bruno Alves went down with an early injury. He would go on to play a key role in Rangers registering a 0-0 draw at the home of their rivals.
Bates has played 14 times for Rangers since he was allowed to move to the Glasgow giants from Raith Rovers midway through last season.