Rangers are third in the standings, trailing leaders Celtic by 33 points.
"It is a great honour to join Rangers Football Club," Caixinha told the club website. (www.rangers.co.uk)
"This club has a great history and tradition and I am proud to follow in the footsteps of legendary Rangers managers like Walter Smith, Graeme Souness and Jock Wallace."
Caixinha had a successful spell at Mexican side Santos Laguna, and is a former assistant manager at Sporting Lisbon, Panathinaikos, Rapid Bucharest and the Saudi Arabian national team.
He has also managed Uniao Leiria and Nacional in Portugal.
(Reporting by Simon Jennings in Bengaluru, editing by Pritha Sarkar)
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