Rangers played a total of 49 competitive matches during the 1984–85 season. The season was Wallace's first full season in charge since his return and almost a carbon copy of its predecessor. Rangers again finished fourth in the league by a massive twenty-one point record behind champions Aberdeen. This disappointment was not caused due to a lack of investment in the playing squad. A total of £495,000 was spent bringing in Iain Ferguson and Cammy Fraser from Dundee, Ted McMinn from Queen of the South and bringing back Derek Johnstone from Chelsea. The club won the Scottish League Cup for he second season in a row meeting Dundee United in the final. A solitary Iain Ferguson strike gave Rangers a 1-0 win.

All results are written with Rangers' score first.

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