The 6-foot-4, 200-pound Rankin committed to Rutgers during his unofficial visit to campus for Saturday's spring game.
He made the decision during a pregame meeting with Rutgers coach Greg Schiano.
"It was a good fit for me, academically and athletically," Ranking told ScarletReport.com "I believe in coach Schiano, and I think we're going to be winning championships here. It's a great fit for me."
Rankin said he made the decision after talking with his family Thursday, but wanted to wait to commit in person.
"Since Day One, the coaches were great," Rankin said. "They welcomed me, they did anything I needed them to do. It was almost too good to be true. I felt so comfortable here with the coaches, and I belive we'll do great things here.
"It was a big thing for me to do it in person, in front of coach Schiano, rather than over the phone."
Rankin was the Scarlet Knights' top quarterback target, and was offered in the summer after he performed well at the Rutgers camp in June.
Penn State, Pittsburgh, Maryland and North Carolina State were waiting to see him throw during the spring evaluation period before deciding whether to offer. As a junior, he completed 74 of 150 passes for 1,400 yards, 17 touchdowns and three interceptions. He also ran for 977 yards and 16 touchdowns.
Asked if he was going to start recruiting for the Scarlet Knights, Rankin didn't hestitate to answer.
"I already started," he said. "It feels good to have a weight off my shoulders, but I'm definitely going to talk to a lot of gusy here."
Rnakin had a very good feeling from the coaches in the program, and he added the players in the program played a big role. He talks frequently with quarterback Chas Dodd, and likes what he heard.
"That was another thing; the players here are so great," Rankin said. "They talk to you abuot anything you want to talk about. In the end, they're honest with you. They're not going to try and sell you. They're not going to lie to you. They're honest, and I like that."