The young Rangers right-back will be keen to gatecrash Steven Gerrard's first team at Ibrox.
It is claimed that Patterson - whose existing deal is due to expire next summer - will sign up until 2022 at Rangers.
The teenage right-back was recently linked with a move to Steven Gerrard's former side, Liverpool.
And he was also described by the Ibrox youth team coach, Graeme Murty - who was speaking to Rangers News - as having 'characteristics you would ascribe to an elite-level full-back'.
But an extended Rangers stay now looks to be on the cards for Patterson.
The young Scot has yet to appear for Gerrard's first team, but will look to challenge James Tavernier, Jon Flanagan, Matt Polster and Jordan Houston at senior level if he re-signs.
And Patterson's versatility, which allows him to play left-back as well, only increases his chances of a breakthrough at Ibrox.
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