The 20 year-old defender put pen-to-paper on his new contract this morning ahead of meeting up for the first time with the Scotland under-21 squad this afternoon.
A product of the Rangers Academy, it was certainly a proud moment, and he explained to RangersTV: "This is huge for me and for my family. I have been at the club since I was seven years-old so Rangers is very much home to me.
"I am looking forward to seeing what the next few years will hold.
"Again, the responsibility is on me to use that and learn from and help me to prepare for what is coming next."
Mayo has been training with the Rangers first-team for the last year or so, and has impressed the staff there to be rewarded with this new, long-term deal.
Indeed, he also spent time with Partick Thistle on-loan last season where he won praise for his performances in his handful of matches prior to the Covid-19 shutdown of the competitions.
On his experience first of all within the first-team environment at Rangers, he revealed: "I think it is massive, both socially being a part of a first-team and the Rangers first-team here and getting used to how they prepare for games and what the expectations are.
"As a player, going and playing against some of the top players every day and putting myself up against the best which is only going to make me better as a player.
"Also, it teaches you how to prepare for those games so you are ready to go out on the pitch and win."
Mayo is a deep thinker about the game, and has an incredible attitude towards his further development.
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On his next steps as he strives to force his way into Steven Gerrard’s matchday player pools, he continued: "Over the last year, I've had different experiences of being part of the first-team squad and going out and playing as part of a first-team.
"I think it will be a continuation of that and it is about me taking as much experience as I can from the opportunities I get that ultimately are going to help me hopefully become a Rangers player."
Mayo’s time in the Academy has drawn to a close now – but his development there has been superb, and he explained: "I think I have been fortunate that I was surrounded by a lot of great players, a lot of great staff and a lot of great people.
"It was a time for me to learn about myself and prepare myself for stepping into this level of football.
"I look back on that time with a lot of fond memories."
Mayo will now meet up with his Scotland under-21 teammates as they look to qualify for next year’s UEFA Euro 2021 finals.
At the midway stage in qualifying, Scotland are just three points off top spot in Group D, with Mayo adding: "It is exciting and it is a squad of players who have a lot of talent and are a very exciting bunch.
"It is a big step for me and hopefully another platform that I can get an opportunity to go and play in.
"As a player, you want to be competitive on every stage you are playing on, so ultimately, that is the goal."