Gerrard has held more talks over replacing Graeme Murty at Ibrox and confirmation is expected in the coming hours.
Gerrard has agreed a three-year deal at Ibrox and is bringing Gary McAllister in as his No 2, with Tom Culshaw and Anfield fitness coach Jordan Milsom making up the backroom team.
Murty was sacked on Monday following another Old Firm embarrassment with Jimmy Nicholl and Jonatan Jonatan Johansson in charge for the remaining three games of the season.
But Rangers have been in talks with Gerrard for nearly two weeks now, with discussions concluding this week after Gerrard completed the season as Liverpool Under-18 manager and working with BT Sport during the Champions League semi-finals.
BT Sport colleague Darren Fletcher tweeted: “Best of luck to Stevie G at Rangers. He’s excited, determined & totally focussed on being a success at Ibrox. Massive opportunity for both parties.
“Been brilliant working with him at @btsportfootball so I know how keen he is to make it as a manager.”
Gerrard is expected in Glasgow for the announcement after holding talks last night and agreeing to take the hot seat at Ibrox.
Rangers play Kilmarnock on Saturday as they continue to battle for second place and Gerrard could even be in the stands to watch on.