Hughes has snapped up Park, 31, for an undisclosed fee with the South Korea international bringing an end his successful seven-year spell at Old Trafford by agreeing a two-year contract with Rangers.
Hughes is currently without a skipper after Joey Barton was stripped of the armband following his antics against Manchester City on the final day of last season.
The controversial midfielder was also banned for 12 matches and fined six weeks' wages after he was sent off for elbowing Carlos Tevez, then kicking out at Sergio Aguero before appearing to aim a headbutt at Vincent Kompany.
"Ji will come into my thinking in terms of a new captain for the club," Hughes said.
"I'll have to see who steps up and who is a natural fit for it. I'm sure people will want the role and to show me they are the right for it and that includes Ji.
"But we've got other guys as well with experience, Djibril Cisse is a Champions League winner so we have good characters in the dressing room who could take on the mantle."