The former Gers captain has expressed his desire to return to Ibrox and play for his childhood heroes before the end of his playing tenure following his summer move to Southampton
The Northern Irishman, 28, left Ibrox for the Premier League in the summer when he and many others refused to transfer their contracts to the newco company that assumed control of the club.
Davis scored for Saints in their 3-1 win over Manchester City at the weekend, his second for the club following his switch to the south coast of England.
Davis told The Daily Record: “It was the toughest decision of my life when I left for another club. If everything goes to the plan I have in my head I'd like to come back and play for the club again before my career ends.
"I know there are different opinions about the players who left after administration but I still follow Rangers and they continue to mean a lot to me."
Rangers went into administration almost a year ago before the holding company was liquidated and the club was placed in the Scottish Third Division, the country’s bottom tier that Ally McCoist's side currently lead by 22 points.
Davis continued: "We were professional sportsmen and on the day it was announced Rangers were going into administration it was just a series of words to us until we absorbed the ramifications of what had taken place.
"I had just signed a new, five-year contract with the club and it had always been my intention to honour that agreement in full and devote the largest part of my career to the team I considered to be one of the biggest names in world football.
"I loved the club and the fans but I had to take a decision which was best for me, my family and the remainder of my career.
"There was so much uncertainty, so I was delighted Southampton made an offer that was acceptable and the club got money that they needed to keep going.”