McGregor has had an outstanding season between the posts for Gers with a string of memorable saves in the 37 appearances he has made so far in this campaign.
Of course, he played a key role in securing title 55, adding to the multiple honours we won in his first spell at the club.
Indeed, next season will the the 13th in which he has represented the club, with his appearance total now standing on 416 .
Perhaps some of his best saves and performances this season have come in the European arena, and he will be a key component to manager Steven Gerrard’s side next season as the club look to qualify for the Champions League for the first time since 2010. Speaking after signing his new deal, McGregor said: "I didn't really need convincing. It was more that my body felt okay and performances seemed okay, so why not?
“You get to love the place and you feel like it is your home.
"You know everybody that works here - not that I didn't at other places - but I just feel like it is my home and there is no other way to describe it."
Manager Steven Gerrard was thrilled to see his number one sign a new deal, and continued: “I am delighted to have secured the services of Allan for another season and he has been outstanding for me since I arrived in 2018.
“Some of the saves he has produced have been world class. To be able to continue playing at this level until his late thirties and hopefully, into his forties, is a magnificent achievement in itself.
“However, being able to consistently perform at the level he has done, has highlighted that he is certainly up there with one of Rangers’ best ever number ones.”
Sporting Director, Ross Wilson, added: “I didn’t know Allan personally before joining Rangers but I always admired his ability from afar.
“However, upon getting to know him better and working closely with him I’ve been blown away by Allan’s professionalism and absolute dedication to Rangers. He was a winner here the first time around and I know how proud he is to be a winning Rangers player again.
“Allan has had his full focus on securing the league title so our discussions over his personal contract deliberately didn’t start until the title was secured. However, we had a chat as soon as it was secured and quickly reached agreement for Allan to extend by a further year.
“Steven and I were certain that we wanted Allan in our ranks next season - he is an outstanding goalkeeper and brings so much personality to our group day in, day out. I am delighted that he has signed this new contract today.”