Alfredo Morelos could land Rangers as much as £15 million if they club were to sell him, according to Kris Commons.
The Colombian has been in revived form under Gio van Bronckhorst, netting his 32nd Europa League goal on Thursday.
His performances are expected to attract interest from elite clubs, but his value has been debated.
Morelos will enter the last year of his contract in the summer and Commons reckons that will affect his transfer value.
Celtic faced a similar predicament when Odsonne Edouard was sold to Crystal Palace in August on deadline day.
The Hoops netted £14m for the Frenchman and Commons predicts Rangers will net a similar fee for Morelos - if he doesn't sign a new deal at Ibrox.
"Even with just a year left on his contract, he could attract a big-money bid from abroad or down south in the summer," Commons said in his Daily Mail column.
"Not quite in the same region as what Celtic got for Moussa Dembele and Kieran Tierney. Both of those deals were well in excess of £20million.
"But maybe somewhere around the £10-15m bracket. With just 12 months left to go on his contract last summer, Odsonne Edouard was in the same position and Celtic sold him for £14m.
"That's the sort of money Rangers could be looking at if Morelos maintains this form, which is a hell of a lot more than they looked like they would get for him just a few months ago.
"He might even commit himself to a new deal if he feels like sticking around at Ibrox under Van Bronckhorst. Winning the title and getting into the Champions League will be key to that.
"But there's no doubt he has put himself firmly back into the shop window with some of his recent performances."
