Rangers comfortably saw off Peterhead to take the Petrofac Cup in front of a crowd of more than 48,000 at Hampden.
An early own goal from Ally Gilchrist and a thunderous strike from James Tavernier put the Championship winners into an unassailable lead.
Andy Halliday added a penalty and Kenny Miller tapped home to make sure Rangers took the trophy at the fourth attempt.
Celtic are the next opponents for Mark Warburton's side in next Sunday's Scottish Cup semi-final.
Elusive trophy finally secured
Rangers had toiled in the Challenge Cup in the tournament's various guises, losing previously to Queen of the South, Raith Rovers and Alloa Athletic. They have finally won it and now move on to play the Premiership leaders back at the national stadium.
There will be a new pitch at Hampden by then - much needed, too.
The surface Rangers and League One Peterhead were forced to play on was scarcely fit for purpose. Barely five weeks ago, the current pitch was laid at a cost of £200,000 but it's about to be dug up again having failed to bed in.
The part-timers of Peterhead were 22-1 to cause a shock but their prospects all but went out the window when Miller slid a cross into their six-yard box that was turned in by a panicked Gilchrist.
Rangers huffed and puffed for a period after that and it was only when Tavernier volleyed in from distance that they doubled their lead. It was the full-back's 14th goal of the season.
Peterhead dug in, however, Rangers' level dropped and the underdogs had two fine chances to score before the break.
The first of them came when Scott Ross's downward header was cleared off the line by Jason Holt, the next when Jordon Brown failed to read Rory McAllister's delivery into the six-yard box. Had he done so, Rangers would have been in trouble.
The final was meandering to a conclusion before Rangers roused themselves in the final minutes.
With Peterhead tiring, Halliday was denied by a point-blank save from Graeme Smith and the goalkeeper blocked again from Tavernier soon after.
The goals would come, though. Steven Noble fouled Holt and Halliday converted the spot-kick.
Then Miller, working as hard at the end as he was at the beginning, put away the fourth from close range.
Two titles in a week is fine work by Rangers. But the biggest test is to come next Sunday.
- 27WilsonBooked at 55mins
- 5WallaceSubstituted forO'Halloranat 67'minutes
- 15ForresterSubstituted forKingat 67'minutes
- 19McKaySubstituted forShielsat 78'minutes
- 6StrachanSubstituted forStevensonat 26'minutes
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- George Salmond
- Shots on Target