The 20-year-old is set to join the Ibrox club on loan for the remainder of the season.
The Colombian plays for Lens in Ligue 1, however, has made just 11 first-team appearances since his summer move from his homeland.
The right winger will initially join Rangers on loan until the summer, with Philippe Clement’s side then holding an option to buy the player.
Should they choose to exercise that clause then Cortes will join on a four or five-year deal.
Fabio Silva and Mohamed Diomande have already joined the Ibrox club this January as Clement reshapes his squad.
Brazilian left-back Jefte is also due to sign for Rangers before the window closes tomorrow night.
Zeb Jacobs, the academy director of Rangers, asserted that the Ibrox club has the strongest youth system and young talent in Scottish football, but he also emphasised that he and his colleagues are still searching Europe and the globe for methods to further improve.
Jacobs, who worked as head of development at Royal Antwerp in his native Belgium before moving to Scotland three years ago, has implemented wide-ranging changes to the set-up at Auchenhowie since being appointed by the Glasgow giants.
However, the Double Pass consultant, who helps the renowned organisation to advise and educate associations, clubs and leagues on player development, admitted that he is constantly looking for ideas to “steal” as he welcomed a £400,000 investment from the Rangers Youth Development Company.
I think we have the best young talent in Scotland and the best programme in Scotland,” he said. “But that doesn’t mean that we’re done yet because the goal is also the infinite goal – the most exciting learning environment in sports.”
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