McKinnon and Hogarth have both earned their spurs with the Rangers B team and the former even made his debut for the first team last season.
In a sensational debut in April, McKinnon scored against Hearts in a 3-1 Scottish Premiership win for the Gers.
Rangers do not want to lose the exciting prospects and are now in the process of ensuring it does not happen.
The Glasgow club want to get the duo to sign new deals with them before they head out of Ibrox this summer.
Rangers have permitted both to leave on loan this summer to garner more experience in first team football, but they want to get them to sign new contracts first.
McKinnon has gone on loan before, to East Fife in League One in the 2020/21 season, and it is believed that a number of clubs are interested in taking him on.
However, it is Championship side Partick Thistle who are claimed to be likely to be the youngster’s destination.
Hogarth meanwhile has one year left on his contract and the Gers will be hoping a loan spell allows the goalkeeper to further develop.
