Iain McMillan celebrated his win by going to Ibrox yesterday to watch his side play Stenhousemuir.
And the former leader of Renfrewshire Council's Labour group revealed the first thing he wants to do is invest in the club.
He said: "I'll buy some new Rangers shares. I'm not looking to get a place on the board or anything like that.
"But I'd like to invest in the club and get a plaque with my name on it.
"I had a couple of shares in the oldco Rangers so I'll defintely be buying some new ones.
"I don't know what else I'll do yet. I've not really thought about it."
The 48-year-old councillor for Johnstone South, Elderslie and Howwood is a member of Johnstone Rangers Supporters Club.
He and his wife Donna won £2,058,622 in Wednesday's Lotto draw using the same numbers they had been playing for several years.
Mr McMillan, a dad-of-two and grandfather-of-four, immediately quit his job in a benefits office, where he's worked for 30 years.
But he said he has no intentions of leaving politics, having been a councillor for 18 years.
Meanwhile, police are investigating the Rangers fan forum Follow Follow after allegations of threatening and offensive comments were posted on the site.
Remarks published on Follow Follow were reported to police by the club, which said the comments had placed a director and his family "in a state of fear and alarm".
In a statement on the club's website, a spokesman added: "The board is also aware that certain individuals are holding meetings and inciting fans to unruly behaviour. This has also been reported to the police."