Attendance 48,821
The success, the club's 32nd in the national tournament, rounds off one of the most dramatic and exhausting campaigns (at 68 games long) in the club's history.
Today's game would have been a joy for all sportsmen - a game played in the true spirit of the game, and won in a sporting manner, unlike this season's SPL campaign.
Rangers had just 41 hours to prepare for today's Scottish Cup Final - having played five games in the last ten days - after losing the League Championship on Thursday night at Aberdeen and with that in mind Manager Walter Smith made four changes with Sasa Papac, Lee McCulloch, DaMarcus Beasley and Kris Boyd replacing Kirk Broadfoot, Christian Dailly, Charlie Adam and Daniel Cousin.
For Queens, a huge travelling support from Dumfries heralded their first-ever appearance in a national cup final, with Rangers wearing their white change strip.
A one-minute round of applause in memory of the late Tommy Burns, the fourth such tribute paid by Rangers fans, was immaculately observed prior to kick-off.
Both sides were intent on attack from the opening seconds. but it was not until the 23rd minute that the first real goal-scoring opportunity was created when Jean-Claude Darcheville broke clear on the halfway-line, his pass to Boyd being laid off into the path of Beasley who curled his effort into the side-netting.
Three minutes later Beasley again threatened, his cross finding Boyd whose header flew wide of the target.
it was all Rangers at this stage - and the opening goal duly arrived in 32 minutes when Boyd rifled home a 25-yard free-kick.
Six minutes later Steve Tosh, playing in his third final for a so-called unfashionable club (Dundee and Gretna being the others) embarked on a solo run that took him through the heart of the SPL side's defence only for the advancing Neil Alexander to block his effort.
USA Internationalist Beasley, making his first start in six months, was providing a pace and width absent too often in the Ibrox ranks of late - and when Rangers went 2-0 up in 42 minutes he was both creator and finisher, his corner-kick being headed back across goal for Carlos Cuellar, the ball breaking to the winger who slotted the ball home.
Darcheville had a chance to finish the game off on the cusp of the interval when he raced clear on the right only to go for the spectacular lob, well over, with two unmarked colleagues waiting in the middle for a cutback.
Nevertheless a 2-0 cushion appeared to suggest that the final was won and lost - a view perhaps subconsciously shared by the Rangers defence who were sleeping in 49 minutes when Queens centre Sean O'Connor worked his way to the bye-line, his cutback being deflected home of the legs of Tosh.
The Light Blues replied instantaneously - Boyd's header from a Kevin Thomson free-kick being held by Queen's goalkeeper Jamie MacDonald.
If that first goal was a shock for the 'Gers fans it was nothing to what awaited them three minutes later when Dumfries captain Jim Thomson headed home a Robert Harris free-kick for the equaliser.
Rangers tried to respond immediately - Darcheville's header from a Steven Whittaker cross being held by goalkeeper Jamie MacDonald, then six minutes later Beasley broke free on the left only to see his cutback to Ferguson produce a weak effort from the captain that was easily held.
The SPL side had regained control of the game - and given the level of their pressure there was a certain inevitability about their regaining the lead in 71 minutes when Boyd headed home a Beasley corner.
Four minutes later Steve Davis replaced Beasley, who had more than justified his selection.
A flying save from MacDonald denied Boyd his hat-trick from a header from a Steve Davis cross in 78 minutes, then as Rangers went all out to seal victory with a fourth goal a Davis corner found David Weir whose knockdown produced an overhead kick from Darcheville that just cleared the crossbar.
16-year-old youngster John Fleck made history when he replaced Darcheville in 85 minutes as the youngest player ever to play in a Scottish Cup Final, and almost put his name in the record books in the 90th minute when he played a one-two with Ferguson only to be crowded out as he pulled the trigger.
It was Rangers' Scottish Cup at the end of a thrilling final - but few will forget the contribution of the First Division side.
After the trophy celebrations Walter Smith reflected;
"It was a relief to win after so much football. I was always concerned that fatigue would play a part, but in fact a loss of concentration let Queens back into the game. I was delighted that we showed the character to come back. We certainly deserved to win."
QUEEN OF THE SOUTH MacDonald; McCann (Robertson 85), Harris; MacFarlane, Aitken, Thomson; McQuilken (Stewart 75), Tosh, O'Connor, Dobbie (O'Neill 81), Burns
UNUSED SUBS Grindlay, Paton
RANGERS Alexander; Whittaker, Weir, Cuellar, Papac; McCulloch, Ferguson, Thomson, Beasley (Davis 75); Boyd, Darcheville (Fleck 85)
UNUSED SUBS G. Smith, Dailly, McMillan
REFEREE Stuart Dougal