The Tigers' stopper has made a decision to return to his former club after his contract with City expired.
The 36-year-old spent more than 10 years at Ibrox before his 2012 departure for Besiktas. He has won lots of silverware for this club, and has shone at the highest level in Europe. Hull finished 18th in the Championship this season and while manager Nigel Adkins wanted McGregor to stay, the keeper rejected the new terms offered and became a free agent.
He's likely to be a hugely popular signing with the club's supporters.
The veteran had no hesitation in returning to the club where he started his career and is prepared to fight for the No 1 spot with Wes Foderingham and Jak Alnwick.
"When the chance came, it was an absolute no-brainer, so I'm buzzing to be back", he told Rangers TV.
The 31-year-old is now thought to be interested in reuniting with Gerrard at Ibrox, but with Lazio reluctant to sell, it may be hard for Rangers to secure his signature this summer.
In his first spell with Rangers he won 11 major trophies, including a hat-trick of league titles in 2009, 2010 and 2011. "To be back is incredible".
"We need to make this place a fortress where nobody wants to come", he said. If you keep doing that then we've seen before that is what wins you titles'.