Ferdinand, 35, announced that he would leave Manchester United at the end of the season and now looks set to join the newly promoted London club, according to the Daily Mail who Ferdinand writes a column for.
The move would see the defender link up with Harry Redknapp again, the manager who handed him his professional debut in 1996 at West Ham, and is expected to be confirmed in the next 24 hours.
Earlier in June, Ferdinand had claimed he had no intention of retiring and had offers from a number of clubs.
"I see myself as going to Rio [where he is working as a pundit] very much as an active footballer with playing time ahead of me.
"It is feasible that in the coming weeks, perhaps even while I'm in South America, I'll make a decision about the next stage in my career.
"I have options on the table from several clubs in England and overseas for next season and I'm intending to play on if the right situation arises."
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- Harry Redknapp
- Manchester United