Ferdinand has been working as a television pundit at the World Cup in Brazil for the past month, and Redknapp plans to resume talks upon his return on Tuesday.
The former Manchester United player, who won six league titles, two League Cups, one Champions League and a Club World Cup while at Old Trafford, has been looking for a club since the end of last season.
"He arrives back today so I am going to meet him and hopefully we can get it sorted," Redknapp said.
"He has not been difficult to deal with. He wants to play and he is not expensive.
"He wants to come and play at QPR now so hopefully we can get it done."
Rangers are also reported to be interested in Tottenham defender Michael Dawson, whom Redknapp worked with while he was in charge at White Hart Lane.
But the QPR boss denied he has been pursuing the Spurs player.
"I like Michael," Redknapp said. "He is a top player and a great lad as well. You would have Michael in your team any day of the week but we haven't made any offers for Michael."