Loran has signed for Tranmere for an undisclosed fee after spending much of last season on-loan with the Prenton Park club.
"Tyrone is an excellent young player who will give the team various options and has great potential," Tranmere boss Ray Mathias told the club's official website.
"His presence in the team was an outstanding feature during our unbeaten run last season and his ambitions are to be successful in English football, which match those of the club as we look forward to the start of next season."