The 26-year-old is the Scottish Championship side's top goalscorer this season.
The former England under-21 international had already played for six clubs before he joined the Gers ahead of the start of this season, and had failed to make much of an impression for any of the previous teams, having only reached double figures for the season in terms of league goals on one previous occasion throughout his entire career.
And he admitted that he was lucky that Rangers decided to take a chance on him based on how his form has been in recent seasons.
"Yeah, I think it would be fair to say that," he told the Record when asked whether his career was floundering.
"I signed for Wigan from Leicester in January 2014 and had a good end of the season.
"But then the new manager came in, things changed and I got injured. It was difficult.
"So I was fortunate to get up here. When the chance came I was desperate to come. It's a huge club."
While he was never able to truly show what he was capable of during his time in England, the move to Ibrox has seen Waghorn establish himself as one of the key men in Mark Warburton's squad.
He has scored 28 goals in just 34 games in all competitions for the Gers to help them power their way to the Scottish Championship title and Challenge Cup and earn a place in the Scottish Cup final.
And while he has been out since February with an injury - which makes his goalscoring achievements all the more incredible - there is surely no question that he will be the man that the Light Blues put their faith in when they get back to the Scottish Premiership next season.