The ex-England international has been in talks with his former West Ham United boss Harry Redknapp about a move to the R's this summer.
Ferdinand, who is a free agent after leaving the Red Devils this summer, completed his medical on Thursday and official confirmation of the move appears imminent after the centre-back tweeted his news.
He said: "Thumbs up re medical now on to the the exciting part #Signature EnRoute to Loftus Road.... #QPR"
Speaking earlier this week, R's boss Redknapp likened the veteran centre-back to the Teddy Sheringham who thrived under the QPR manager during their time at Portsmouth together, despite his advancing years.
The Guardian quoted him as saying: “Getting a deal like this done reminds me of when I signed Teddy Sheringham at Portsmouth [in the summer of 2003]. The standards were lifted and he was somebody everyone looked up to.
“The coaches and the younger players all learned off him and he was a massive influence. I can see Rio at QPR doing what Teddy did for me at Portsmouth.”
Ferdinand's United exit coincides with Nemanja Vidic's departure and new manager Louis van Gaal will likely have to purchase at least one central defender this summer, with the likes of Borussia Dortmund's Mats Hummels being repeatedly linked.