Their move to land Croatian international striker Antonio Colak has moved a step closer.
According to reports in Greece, the 28-year-old will travel to Glasgow in the coming days to undergo a medical and complete his move from PAOK.
Colak is currently in the Netherlands on a pre-season camp with the Greek side.
Rangers are understood to have agreed a €2million deal with add-ons with PAOK and have reached an agreement with the player.
Colak will join John Souttar as a new signing at Ibrox with Giovanni van Bronckhorst landing a key target.
Rangers were in need to add greater attacking depth. Cedric Itten has already departed, while the team missed Alfredo Morelos and Kemar Roofe for a large chunk of the run-in which saw the team reach the Europa League final and win the Scottish Cup final.
German-born Colak will arrive following a productive loan spell in Sweden with Malmo. He hit 14 goals in 26 league games to help them win the title.
The striker struggled to make an impact in Greece after joining €3million after impressing with Rijeka.
While Rangers are set to sign Colak, they are on the verge of selling Joe Aribo. Negotiations over his transfer to Southampton are progressing.
The deal will see the club net around £10million with the sell-on clause.
The Nigerian international, who scored in the Europa League final, is entering the final year of his deal following his £300,000 bargain move from Charlton Athletic in 2019.