Sheffield Wednesday have agreed an undisclosed compensation fee with Rangers for midfielder Rhys McCabe.
Scotland Under-21 international McCabe has made nine appearances for the Owls this season after opting to leave Rangers in the summer.
"Rangers and Sheffield Wednesday have agreed terms over Rhys McCabe," said Rangers chief executive Charles Green.
He added: "Sheffield Wednesday have acted in good faith and recognised our rights as a club during the process. We wish them every success this season and beyond and while we were disappointed Rhys decided his future lies away from Rangers we wish him well for the future."