The 23-year-old skippered Hearts to the Championship title last season but elected to leave the club in the summer.
The centre-half had been linked with a move to Celtic but it is now expected that Wilson will re-join his first club on a three-year contract.
Wilson, who has won five caps for Scotland, made his Rangers debut at the age of 17 in 2009 with then-captain Davie Weir helping the youngster make the step up to the first team.
Weir has since returned to the club as new manager Mark Warburton’s assistant.
He joined Liverpool for £2m in 2010 but failed to hold down a regular first team place and had loan spells away from Anfield before signing a permanent deal with Hearts.
New boss Warburton said he and Weir were making progress with re-building the Rangers squad, which included working on deals for John Eustace and Wigan’s Rob Kiernan.