An external, independent nominations committee, which includes former Ibrox captain David Weir and Scottish rugby international Alastair Kellock, has been set up to review applications and nominate a shortlist of supporters for election.
The panel will consider applications from season ticket holders and club members then then make a decision on a final shortlist of candidates who will be voted for by supporters.
Rangers chief executive Graham Wallace told the club's official website: "It is clear that the wider fan base is fully supportive of the creation of an official Rangers fans board so I am delighted to confirm this tangible step towards its implementation with the announcement of a nominations committee.
"The committee will select a number of candidates for election to the fans board they feel best placed to represent the interests of supporters around the world.
"Supporters have a key role to play in helping achieve success for Rangers on and off the park and the introduction of a fans board will provide the platform for more structured dialogue as well as providing the club with a better understanding of the issues and concerns of the fan base.
"Once the nominations are confirmed it will be down to the fans themselves to decide on exactly who will represent their interests, via an online vote, and I hope this process underlines our commitment to improving communications and engagement with our supporters."