Rangers are at the top of the league table at the moment with 33 points from 12 matches, five points clear of Hibernian, who are currently second.
Former Rangers winger McCann believes that the title race in the second tier of Scottish football is back on.
"If Rangers had gone 11 clear it would have been done but now it's down to five and it's still game on,” the 41-year-old told Sky Sports.
Rangers will take on Alloa Athletic at Ibrox in Glasgow in the Scottish Championship on Saturday afternoon.
Meanwhile, Hibernian will face Dundee United at home in the quarter-finals of the Scottish League Cup on Wednesday evening before facing St. Mirren away from home in the Championship on Saturday.
Mark Warburton’s Rangers side are still firm favourites to win the league title this campaign, but Hibernian could give them a run for their money.