Ally McCoist, who had joined Rangers from Sunderland at the start of the season, scored a hat-trick as Jock Wallace's side claimed the silverware.
McCoist had Rangers 2-0 up after an hour but Brian McClair got one back and Mark Reid equalised for Davie Hay’s team with a last-minute penalty.
The winning goal came in extra time when McCoist netted the rebound after Celtic keeper Pat Bonner had saved his penalty.
#OnThisDay in 1⃣9⃣8⃣4⃣...
— SPFL (@spfl) March 25, 2020
Ally McCoist scored a hat-trick and lifted the first trophy of his career as Rangers defeated Celtic 3-2 in the League Cup final!#OTD | @RangersFC pic.twitter.com/ukiJOTPO8D
Winning line-up
Peter McCloy
Jimmy Nicholl
Ally Dawson
John McClelland
Craig Paterson
Davie Cooper
Bobby Russell
Dave McPherson
John MacDonald
Sandy Clark
Ally McCoist
Substitutes
Hugh Burns
Colin McAdam
