Fernandes, who has previously failed in bids to gain control of West Ham United and Norwich City, also confirmed that the new regime we will be working closely with supporters.
"I’ve always wanted to be involved in football and the appeal of a London club, like QPR, was too good an opportunity to turn down," the Malaysian businessman told the club's official website.
"QPR is a raw diamond and hopefully I can contribute into turning it into a diamond.
"I want the fans to be proud of what we’re doing and be involved as much as we can. The fans pay good money and are stakeholders, so whatever we do, I want the fans to be proud. We’ll do it in style and with integrity," he added.
Fernandes has purchased a 66% stake in the Loftus Road club.