The five-year agreement will commence at the start of next season and see Rangers wearing the Puma brand on all the club's team kit and equipment.
And the partnership with Puma complements the club's joint venture with retail store Sports Direct, who have also been in discussion regarding renaming Ibrox.
Rangers chief executive Charles Green said: "We are delighted to announce this partnership with Puma.
"Rangers and Puma are massive global brands and this relationship will undoubtedly improve the distribution of club merchandise.
"Puma are renowned for their technical innovation and expertise in product design and support systems and we look forward to enjoying a productive and successful partnership over the next five years."
Tony Ward, managing director, Puma UKIB, said: "Rangers is an iconic club with a rich history. When the opportunity arose to develop a technical partnership with them we were delighted to reach an agreement."