The 28-year-old Croatian international tore ligaments in his right knee during Tuesday's 3-2 reverse in Scotland, an injury confirmed by the Porto medical team on Wednesday. He will undergo surgery later in the week.
As well as Šokota's loss, Porto will be without defenders Pedro Emanuel and Pepe who were also injured at Ibrox. Captain Emanuel, who was substituted four minutes before half-time after a clash of heads with Dado Pršo, broke two bones in his nose and has already been operated on.
The 30-year-old will miss Sunday's Portuguese Liga trip to SC Braga but could be back for the Champions League home game against FC Artmedia Bratislava on 28 September. Meanwhile, the 22-year-old Pepe, who scored both Porto goals at Rangers, suffered a thigh strain which will sideline him for two weeks.
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