The on-loan AC Milan star has impressed since making the move to West London during the January transfer window.
Taiwo is poised to make a £3.5m switch to QPR should Mark Hughes steer them to Premier League safety.
"I feel at home here," said the Nigerian international. "Everyone has welcomed me and I enjoy playing here. I know I haven't been here a long time, but if I am here next season then I will be very happy.
"I don't want to go back to Milan. I pray that QPR will stay up as we have an agreement that I will stay if they do, and that would be fantastic for me."
The 27-year-old has 53 caps for Nigeria.