It will be Lafferty’s second spell at Ibrox having played for Rangers between 2008 and 2012.
In that time he won three league titles at Rangers, a Scottish Cup and two League Cups and scored 38 goals in 138 appearances.
After playing for Sion, Palermo, Norwich, Caykur Rizespor and Birmingham, Lafferty moved back to Scotland in 2017 and joined Hearts.
Last season, he scored 19 goals in 45 appearances.
This season, he scored the only goal as Hearts beat Champions Celtic.
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