The 20-year-old joined the Scottish Premier League champions in January after spending the previous year on loan with Sheffield United, making nine appearances for Walter Smith's side.
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However, the young Gunner's Rangers career was cut short after picking up a knee ligament injury in a Europa League tie against PSV Eindhoven in March, ruling him out for the rest of the season.
Nevertheless, McCoist - who has replaced the retired Smith in the Ibrox hot seat - is keen to bring Bartley back to bolster the Gers' squad as they prepare to defend their league crown.
The former Scotland international, who won the SPL title 10 times with Rangers from 1987-97, admitted that he has spoken to Emirates Stadium supremo Wenger, who is waiting to see the starlet in action during pre-season before giving the thumbs up to the move.
"It would be great to have him back," he said. "I spoke to Arsene Wenger and Arsene wants to have a good look at Kyle in pre-season before he makes any decision on anything.
"I can totally understand his view. He is absolutely, 100 percent within his rights and I would do exactly the same. He doesn't need to look at his players just now."
