Well's Scottish Premiership rivals parted with Mark Warburton on Friday.
While McGhee thinks former Rangers manager Alex McLeish would do a good job, he also hopes Aberdeen's Derek McInnes and St Johnstone's Tommy Wright will be considered.
"I would love to see one of these guys get the opportunity," McGhee said of McInnes and Wright.
"We all do these courses, the pro-licences, and we all work hard with the resources that we have and I think it is good when these guys get that recognition."
Former Rangers midfielder McInnes and Saints boss Wright have both dismissed as speculation media talk about them being candidates for the Ibrox vacancy.
McGhee, a former player and manager of Aberdeen, takes his 'Well side to Pittodrie on Wednesday and is an admirer of the present Dons boss.
"As someone who has been at that club and knowing how difficult it is to manage it, I think he has done a brilliant job," he said.
"I see Tommy Wright linked and, equally, with the resources he has, he has done a brilliant job."
Managing director Stewart Robertson has revealed that Rangers will look to fill a new post of director of football following Warburton's departure.
Former Ibrox manager McLeish is the bookmakers' favourite to be named team boss and McGhee thinks his former Aberdeen and Scotland team-mate could also be a good director of football.
"Alex has the ability, experience, contacts and knowledge to do either role, to go in there as manager or go in there as director of football and work with a younger manager," added the Well  manager.
"He would be a big asset for any club. It is a club he knows well, a club that he has worked at and a club he has the heart for, so I don't see anything negative about that.
"Alex is a brilliant networker. He has contacts everywhere and he has been the Scotland manager, so he would be a fantastic asset to a club the size of Rangers, there is no doubt about that."
Motherwell manager Mark McGhee would like Rangers to look within Scottish football for their new manager.