The 16-year-old has risen through the academy ranks at the Ibrox club and turned out for the under-18s this season.
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He is now said to be on his way to join Newcastle, with a medical in the works for Goodbrand, who will initially join up with the club's academy, claims the Daily Mail's Craig Hope.
There is also believed to have been interest from abroad in the teenager.
🚨 EXC: Newcastle are set to sign Oliver Goodbrand from Rangers. Highly rated 16-yr-old left back who had interest from abroad. Due on Tyneside for medical. Will go into the academy next season #nufc pic.twitter.com/60MmJCyDVO
— Craig Hope (@CraigHope_DM) June 6, 2025
News of Goodbrand's exit comes as Rangers' interest in Conor Coady emerges.
The Rangers Review revealed earlier today that the Ibrox club are considering a move for the England international following Russell Martin's appointment as head coach.
Coady has played 10 times for his country and could replace Robin Propper, who is likely to leave amid interest from Dutch outfit FC Twente.
"There are a few positions where we'll need to strengthen fairly quickly and fairly early on," new boss Martin recently told Sky Sports.
"I'm also willing to be surprised and I'm open to being surprised by some of the players we have here.
"I think the way we're going to try and work and play is going to give them the best chance to show us what they've got and to give us the best version of themselves and hopefully one or two surprises.
"We'll need some help before that game for sure, but until we get in here and assess everyone, how many we'll need before the game or how realistic that is because football and the business and transfer window can be difficult.
"I'm pretty sure by then we'll have one or two people [in], to help us add to the group."