Kranjcar parted company with Graeme Murty's Rangers by mutual consent, less than two years after his arrival at Ibrox.
The father of former Rangers midfielder Niko Kranjcar believes his son could retire from football after leaving Ibrox in March.
Rangers parted company with Kranjcar three months ahead of schedule after only 11 appearances this season.
And according to Zlatko Kranjcar - the former Dinamo Zagreb and Croatia manager - a knee injury meant the 33-year-old could only play once every three Gers matches.
"I do not think he will play anymore. It’s not 100 per cent certain, but I think he is very close to confirming this," the elder Kranjcar said, as quoted by the Scottish Sun. "It’s true he is no longer young, but it’s his knee that’s the major problem.
"His knee is in total chaos. When he was at Rangers and played a match, he had to miss the next two games to recover.
"So I do not think he will play anymore. It seems to me the end has come.
"He’s done his coaching badges, but I doubt he will be a coach. He is not that type of guy. It’s up to him to decide what he wants to do next - everything is possible."
Kranjcar's last game for Rangers came in December's Old Firm draw at Celtic Park, before the signings of Sean Goss, Greg Docherty and Jamie Murphy pushed the Croat down the pecking order at Ibrox.
Signed by Mark Warburton upon the Gers' Premiership return two summers ago, Kranjcar only played 26 times in Light Blue - scoring three goals and creating six.
Given his decorated past - Kranjcar counts Tottenham Hotspur and Dynamo Kiev among his previous clubs - it is likely the 81-cap star was among the highest earners at Rangers, and his departure could free up funds ahead of the summer transfer window.