The forward’s spell with Reims in Ligue 1 was last season was particularly disappointing as he made just three league starts for the eighth-placed outfit.
And with no opportunity to break back into Liverpool’s senior squad for the coming campaign, Ojo will spend 12 months with Rangers.
And Goal claim that Liverpool hope Ojo can reignite his development in the Scottish Premiership, given how well fellow Liverpool academy graduate Kent did last season.
The 22-year-old was named PFA Scotland’s Young Player of the Year after scoring six times and laying on six assists in 23 league appearances for the Light Blues.
Ryan Kent's success at Rangers has helped them sign Sheyi Ojo (Image: GETTY)
Sheyi Ojo endured a disappointing spell in France last year (Image: GETTY)
Ryan Kent enjoyed a productive spell at Ibrox last year (Image: GETTY)
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Such was Kent’s impression at Ibrox that Gerrard is desperate to land Kent for a second successive season on loan.
The England youth international has had loans at Coventry, Barnsley, Freiburg and Bristol City before Rangers and has spoken publicly about his desire to join his next club on a permanent basis.
Goal say that Leeds, Aston Villa and Middlesbrough are all interested in a deal, which would cost them around £12m, though Gerrard is keen to convince him to return to Rangers.
The Scouser used his Liverpool links, meanwhile, to convince former MK Dons trainee Ojo to Glasgow and is said to be excited about the potential for the youngster to play on either the right wing, the left wing or as a No 10.
Don Cowie, who played with under-20 World Cup winner Ojo at Wigan, believes Ojo could be a useful player for Rangers.
Sheyi Ojo will join Rangers on a season-long loan (Image: GETTY)
Steven Gerrard has already had Kent and Ovie Ejaria at Rangers from Liverpool (Image: GETTY)
Liverpool's Ryan Kent trains with the Rangers team
He told theDaily Record: “He’s a winger who is very direct and wants to be on the ball and get at full backs.
'He’s similar to Ryan Kent who we’d all agree took a bit of time to settle in but as the season went on he went from strength to strength.
“I’m sure Sheyi would be the same because it’s different and you need to get used to that pressure of playing for one half of the Old Firm.
“I would be intrigued to see how he handles Scottish football because you have to remember how young he was when I played with him - you can mature a lot mentally and physically in that period of time.
“But purely going on the basis of what I seen and the ability he’s got then if he has improved since then he could be a very good player for Rangers.”