Ferdinand has been tasked with overseeing the footballing structure at QPR by chairman Tony Fernandes, and the ex-England international will also take up a coaching role at all levels, including the first team.
The 47-year-old was pictured alongside Fernandes during QPR's 2-0 defeat to West Ham on Sunday - a result that leaves Harry Redknapp's side bottom of the Premier League with just four points from seven games.
Ferdinand, who scored 90 goals in 183 appearances for QPR between 1987 and 1995, previously worked with Redknapp at Tottenham.
He is relishing the chance to get started at Loftus Road, and hopes to see more players graduate from the youth academy into the first team.
"It's about time we started producing players that come through to the first team from the academy," Ferdinand told QPR's official website.
"QPR always had a tradition for doing that, but it seems to have gone away from it in recent years.
"There's nothing I want more than for QPR to be successful in the short, medium and long term and I'm excited about the challenge ahead."
Ferdinand left his coaching role at Tottenham at the end of last season.
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