County boss Jim McIntyre, who was formerly in charge at Queen of the South, has targeted the 22-year-old McShane as part of the rebuilding job in Dingwall.
McIntyre said: “I am very delighted to get Ian on board at the club and he brings with him a great deal of footballing qualities and experience which will blend very well into the team.”
County released 12 players last week but McIntyre is hoping to retain the services of midfielders Martin Woods and Jackson Irvine. The former signed a short-term deal in October while the latter has been on loan at Victoria Park from Celtic.
McIntyre said: “We have offered Martin Woods a contract and we would like to bring Jackson back, but the ball is firmly in Celtic’s court with that one.
“We have offered contracts to seven players. So if we can manage to secure them then it means we only have to add another seven so we will just need to see how the discussions go.”
County secured their Premiership survival this season with one game to spare while Queens were edged out by Rangers in the Premiership play-offs.