It was reported following his release by Manchester United at the end of last season that the former England centre-back would sign on at Loftus Road.
However, while the 35-year-old worked as a pundit at the World Cup in Brazil, further speculation had suggested that the QPR board were unsure as to whether he was the type of player that the squad required.
Redknapp, though, has now revealed that the deal should be concluded in the near future.
"He arrives back today so I am going to meet him and hopefully we can get it sorted. He has not been difficult to deal with. He wants to play and he is not expensive. He wants to come and play at QPR now so hopefully we can get it done," Redknapp is quoted as saying by Sky Sports News.
Ferdinand started his career in London with West Ham United, before having spells with Leeds United and Man United.