Within the next 24 hours, QPR officials will release a statement making the signing of the ex-Manchester United 35-year-old official. He was released from Manchester United at the end of last season.
Rio Ferdinand will join the newly promoted London side and return under Harry Redknapp, who was responsible for giving Ferdinand his first start at West Ham in 1996.
Earlier in June, Ferdinand had claimed he had no intention of retiring and had offers from a number of clubs.
"I see myself as going to Rio [where he is working as a pundit] very much as an active footballer with playing time ahead of me.
"It is feasible that in the coming weeks, perhaps even while I'm in South America, I'll make a decision about the next stage in my career.
"I have options on the table from several clubs in England and overseas for next season and I'm intending to play on if the right situation arises."
At Manchester United, Ferdinand quickly became seen as one of the best English central defenders. His pace and ability quickly read the game in front of him also made him and England regular. The trophy haul Ferdinand contributed to at Manchester United makes him one of the most decorated defenders in the history of the English game. Six Premier League titles and one European Championship are the highlights of his time at Old Trafford. Despite his success, having turned 35 last November United made a decision to part company with Ferdinand at the end of last season.
QPR opens its Premier League campaign on August 16th against Hull City at Loftus Road.