The 38-year-old, who retired from football in 2015, has joined up with Betfair to take part in the bookmaker's 'Defender to Contender' project.
According to The Guardian, Ferdinand's transition into the ring is expected to be filmed for a television documentary, which is likely to end with the retired centre-back taking on his first fight.
"The chance to prove myself in a new sport was a real draw," said Ferdinand. "Boxing is an amazing sport for the mind and the body. I have always had a passion for it and this challenge is the perfect opportunity to show people what's possible.
"It's a challenge I'm not taking lightly, clearly not everyone can become a professional boxer, but with the team of experts Betfair are putting together and the drive I have to succeed, anything is possible."
Ferdinand, who will be following in the footsteps of former Sheffield United midfielder Curtis Woodhouse in the switch from pitch to ring, regularly posts videos of himself sparring.
Since retiring from football, the ex-England international has been working as a pundit for BT Sport.