The 29-year-old signed for the Royals on the final day of the January transfer window from Bournemouth on a loan deal until the end of the season.
"If they didn't have a chance of promotion I wouldn't have come here," getreading quotes Grabban as saying. "I definitely think there's a good chance to do something special this season.
"Hopefully we can do it as a squad over the rest of the season, and being one of the senior pros that has been quite successful in the Championship, I want to use that to help youngsters and help the team through my performances as well. I am hoping it will be a good spell."
Grabban has won promotion to the top flight with Bournemouth and Norwich City.