The 29-year-old former Sunderland, West Ham and QPR man looks set for a return to English football after a spell abroad.
He joined Turkish side Bursaspor on loan from QPR in January 2013, before signing a three-year deal with Antalyaspor in August last year.
However, he only made three league appearances last season and looked set to continue his career in Thailand, having signed for Police United in June.
The former England Under-21 man is the younger brother of Rio Ferdinand and came through the West Ham academy.
Reading have not been very active in the transfer market of late but manager Nigel Adkins said at the weekend that he was hopeful some new arrivals could be imminent.
As well as the free-transfer signing of Ferdinand, the Royals have signed Nottingham Forest striker Simon Cox on a two-year deal, for a fee reported to be around £600,000, and are also being linked with a move for Cox's team-mate Jamie Mackie.