The 24-year-old midfielder will complete his move from home country club Vida, subject to receiving a work permit, when Rangers' transfer embargo is lifted on September 1.
Peralta is currently with the Honduras squad and will have a busy summer schedule as the national team played Israel on Sunday before World Cup qualifiers against Costa Rica, Jamaica and the USA in the next few weeks.
He will link-up with Jon Daly, Nicky Clark, Cammy Bell and Nicky Law, who have also agreed moves to Ibrox.
"I am delighted to be joining a club with the size and history of Rangers," he said. "I had several offers from Europe, MLS and at home in Honduras but when I was told I could sign for Rangers it was an easy decision.
"I am really looking forward to pulling on that famous blue shirt and getting out on the Ibrox pitch, hopefully the club and fans will appreciate what I can bring to the team."
Manager Ally McCoist said: "We are delighted Arnold has agreed to join us. We
went over and watched him playing for Honduras against Panama and he performed well.
"He will certainly give us a bit of bite in the middle of the park.
"Arnold is very aggressive and he gets about the park well, so I think he would blend in with the rest of the midfield and he will be a good signing."