The 35-year-old has been a free agent since his 12-year stay at Old Trafford came to an end when his contract expired last month and he is now set to be reunited with Harry Redknapp, the man who handed him his professional debut when the pair worked together at West Ham.
Ferdinand's future was up in the air as he travelled to Brazil to work as a World Cup pundit with BBC Sport but now he is back he appears to be closing in on a move to Loftus Road.
"Thumbs up re medical now on to the the exciting part £Signature EnRoute to Loftus Road.... £QPR," he tweeted.
If the contract is signed without a hitch, Ferdinand will become Redknapp's first summer signing after guiding the R's back into the Premier League through the play-offs.
Until now the 67-year-old has focused more on handing new contracts to those players who helped steer the club back to the top flight but, in Ferdinand, he will be adding a man with plenty of experience and six Premier League winners' medals.