Rangers manager Steven Gerrard says "the best is yet to come" from Alfredo Morelos after the Colombian signed a new contract with the Ibrox side.
The 22-year-old has extended his current deal until 2022.
"Alfredo is a vital part of what we are trying to create here and although he has attracted close attention from other clubs it is important we hold on to him," Gerrard told the club website.
Morelos said: "I want to be with Rangers for as long as possible."
He has scored six goals in 12 appearances this season, earning him a call-up to the Colombia squad for the first time.
Rangers had rebuffed a £3.75m offer from Bordeaux for Morelos, who cost £1m a year ago from HJK Helsinki, while they also received an £8m offer from Chinese club Beijing Renhe in January.