The former West Ham and Tottenham boss, who revealed he was seriously considering talks over the vacant Ukraine job earlier in the week, emerged as the favourite to replace Mark Hughes after the Welshman was sacked.
And now the 65-year-old has confirmed he is close to taking over at Loftus Road with an announcement possibly being made on Saturday morning.
"Hopefully we can get it done tonight, there shouldn't be any problems," Redknapp told BBC Sport late on Friday.
|FALLING THROUGH HOOPS|
|15/8||QPR are 15/8 with Bet365 to finish bottom of the Premier League this season|
However Philip Beard, the QPR chief executive, would not confirm the apparently imminent appointment of the former Tottenham boss.
Beard said: "It's too early to say. We're going to work hard to make the right decision for QPR and the fans.
"A difficult decision has been made, now we've got to focus on finding a successor."