The Liverpool legend has been handed a four-year contract at Ibrox and has been tasked with trying to mount a title challenge against Old Firm rivals Celtic.
Advocaat enjoyed a relatively successful period in Glasgow between 1998 and 2001 and the former Gers boss has acknowledged that he is delighted with the arrival of the ex-midfielder.
The Dutchman is quoted by Sky Sports News as saying: "He will walk straight into that dressing room and command respect. I was really impressed by the appointment. It's a great name. Steven was a great football player, a legend in Liverpool.
"Now he's got the opportunity to be the manager of a big club, so it's very positive. I don't worry about his experience. He has so much of it as a player and has always had great managers around him at Liverpool and the national team, so I don't think that will be a problem, not at all.
"I can only see the positives for Steven and for the players at the club."
Rangers have ended the last two seasons in third spot in the top flight.