Oscar Cortes hoping to help Rangers chase success on three fronts this season
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The 20-year-old Colombia winger becomes the third January addition to Philippe Clement's squad following the arrivals of Fabio Silva and Mohamed Diomande.
Rangers have already won the Viaplay Cup this season and are still fighting on three fronts: the cinch Premiership, Scottish Gas Scottish Cup and Europa League.
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Hide AdThe transfer deadline day deal is subject to international clearance - the Ibrox club have an option to buy - but Cortes told the club's official website: "I am very honoured and privileged to be signing for Rangers.
"I have heard a lot about the history and tradition of Rangers, and I have had positive conversations with the manager who said I can help the team reach their goals this season.
"I am really excited to join up with my team-mates and hopefully exciting the fans with my style of play."
Cortes came through the youth ranks of Colombian top-flight side Millonarios before making his first-team debut only days after his 18th birthday.
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Hide AdHe made his senior Colombia debut last June against Iraq and his performances for Millonarios saw him clinch a move to Lens last summer.
Clement said: "I am really delighted to add Oscar to our squad.
"Our discussions have been really positive, and I believe he will be a big asset to the squad as we fight across three fronts for the remainder of this season.
"Oscar is really enthusiastic about our aims and ambitions as a team, and his skillset will provide welcome competition to our forward line."
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Hide AdDirector of recruitment Nils Koppen added: "Oscar had been on our radar for a long time and was one of the best performers at the South American under-20 Championship.
"He quickly became an important player for Millonarios in the Copa Libertadores and made the move to Europe. Through good contacts, further analysis and our belief in his talent, we are pleased to seize this moment to sign him.
"With his pace, goal threat and technical level he will give us more options on the wing and working with our manager we believe we can take his development to the next level."