Ferdinand fell out of favour under Harry Redknapp last season, spending the second half of the campaign on loan at Turkish side Bursaspor.
The Hoops confirmed that Ferdinand's contract had been terminated in a short statement on the club's official website, which read: "Anton Ferdinand has left QPR by mutual consent.
"The club would like to thank Anton for his contribution and wish him all the best for the future."
Ferdinand used Twitter to thank QPR fans for their support during two years at Loftus Road, in a spell which saw the central defender make 49 appearances.
His tweet read: "I would like to thank the players & #qprfans 4 there support will never forget the relationship i had with the R BLOCK!!!"
The 28-year-old is now available on a free transfer, with the central defender expected to open talks over a return to Turkey with Antalyaspor later today.