The new agreement will provide a coaching and support mechanism set up between the two sides.
Coaches from Rangers will travel to Hong Kong to provide additional support and assistance by conducting training sessions to help develop the relationship.
Hong Kong Rangers will gain access to online training courses carried out by the Rangers Soccer Academy to enhance their training regimes while continuing to develop young players.
Th partnership will aim to elevate the commercial benefits for the Glasgow giants, while historical links already exist between both clubs with Gers legend Willie Henderson having played for Hong Kong Rangers between 197 and 1976 along with several former players.
Gary Gibson, head of soccer academies and international relations at Rangers Football Club, stated: “This is another exciting announcement as we continue to drive Rangers International Soccer Academy in different parts of the globe.
“Creating a strong relationship with Hong Kong Rangers will give us further exposure in the region, and that will see Rangers coaching staff travelling across to deliver camps and coach education events, build strong relationships with schools and welcome groups across to Glasgow for football, educational and cultural events.”
Philip Lee, chief executive of Hong Kong Rangers, commented: “We are happy to be announcing that the HK Rangers will work with Rangers International Soccer Academy in Glasgow, Scotland, on local player development in the Guangdong - Hong Kong - Macao Greater Bay area.
“Both clubs will work together closely to develop local talents for the benefit of Chinese football.
“We are looking forward to bringing Rangers coaches to Hong Kong and taking groups across to Scotland to visit the World’s Most Successful Football Club.”