Papac has won three league titles since arriving at Ibrox
Sasa Papac has signed a contract extension with Rangers, committing him to the Ibrox club for another season.
The Bosnian defender was signed by Paul le Guen from Austria Vienna in the summer of 2006 and has been a consistent performer for the club.
His retention comes as new Rangers manager Ally McCoist aims to retain all the key players from this season's title-winning squad.
"It will be a pleasure for me to play another year for Rangers", said Papac.
"We've had talks for the last couple of days and this was a good day for signing this new contract.
"I'm the last person from Paul le Guen and now I'm the first signing for
the new owner
. It's good and I'm so happy."
It is understood agents had attempted to sound out Papac to discuss a summer move, possibly to link-up with Alex McLeish at Birmingham City, but the player insists there was only one place he wanted to play his football.
“I just heard of Birmingham from the newspapers. I didn't have contact with Alex McLeish”
"I didn't speak with anybody," the 31-year-old told BBC Scotland. "I said my priorities were Rangers and I want to stay here.
"I am so happy everything is finished and I am staying another year.
"I just heard of Birmingham from the newspapers. I didn't have contact with Alex McLeish."
Initially signed as a centre-back, Papac has grown into the left-back role since Walter Smith returned to Ibrox.
He hopes that he is the first of a number of players who sign or re-sign for the Ibrox club in the summer.
"We need a couple of new faces for next season because we don't have a big size of squad," he said.
Papac has no doubt that Ally McCoist is the right man to replace the departing Smith.
"Ally's ready to take the team and fight for another trophy," he said.
Rangers clinched the Scottish Premier League title against Kilmarnock
, Papac made it clear he intended to stay at the club.
"It is the best feeling in my life," he revealed. "It is a good present for Walter.
"I like this club and Walter is a great man, not just on football but in life.
"It is the best club in the world."