Manager Steven Gerrard believes Rangers are "building something special" after extending his contract until 2024.
The former Liverpool captain, 39, was appointed on a four-year deal in May 2018, leaving his role as Anfield youth coach for his first managerial post.
The Ibrox club sit second in the Scottish Premiership, two points behind Celtic, who beat them in Sunday's League Cup final.
On Thursday, Rangers reached the last 32 in the Europa League.
A 1-1 draw at home to Young Boys was enough to clinch second place in Group G.
- What awaits in Europa League last 32?
- Rangers through after nervy draw
- How much has Gerrard improved Rangers?
In his debut season, Gerrard led Rangers to a runners-up finish in the league and took them from the first qualifying round to the Europa League group stage.
"When [chairman] Dave King approached me about the possibility of extending my contract, it was a very easy decision to make because I'm very happy and feel that we are building something special together at the club," said Gerrard via a club statement.
"I'd like to thank the board for the backing they have given me already in my time at the club and also most importantly, the Rangers fans who have given me and the team such tremendous backing both this season and last."
Gerrard's assistant Gary McAllister, along with coaches Michael Beale, Tom Culshaw, Colin Stewart, Jordan Milsom, Mark Waller, Scott Mason and Graeme Stevenson, have also renewed their contracts.
King added: "From the moment I met Steven, I could tell that he was the right man to help us to drive this club forward on the pitch. He has an elite mentality and that is exactly what I was looking for.
"He is relentless in his desire to bring success to our club and we are delighted that he has signed this new contract, which shows his commitment to Rangers."
Yeah, yeah, Jurgen Klopp signs an extension too - analysis
Former Celtic striker John Hartson on BBC Radio Scotland's Sportsound
He's vastly improved Rangers as a football team and Rangers obviously believe he is doing a good job, which I believe he is, and they want to tie him down.
In football, you can have a couple of good years and the big money down south or elsewhere will try to prise you away.
He's still not won anything yet - played four and lost all four - but Rangers have safeguarded themselves.
Former Rangers striker Billy Dodds on BBC Radio Scotland's Sportsound
There's no doubt he's got the same drive and focus he had as a player. You can see it in him - the calmness and determination to get his team over the line, even though they just failed in the cup final on Sunday.
The timing is good. They mentioned it before Thursday's game but didn't commit themselves and then it is mentioned after they have gone through in Europe. I don't know how it would have gone down if they had gone out of Europe and lost to Celtic.
I was like, yeah, yeah, it comes on the same day that Jurgen Klopp signs an extension of the same length at Liverpool. Everyone's ambition is to work in England, but don't think Steven Gerrard has one eye on there just now. He is determined to be a success with Rangers before going down south.