The MLS side, now managed by the Rs' former center back Ryan Nelsen, announced the 24-year-old's arrival on Wednesday.
TFC, now managed by ex-Hoops defender Ryan Nelsen, is looking to strengthen its squad following the retirement of former Germany international Torsten Frings.
And the Reds are hoping Ephraim will be able to step in and contribute right away, even though the 24-year-old has not started a league game for the Rs since they won promotion to the Premier League.
“Hogan is very strong technically, he has a great attitude and wants to get games under his belt,” Nelsen said in a club statement. “We’re very fortunate to have him, he is a player that can excite the crowd and I feel the fans will look forward to being able to see him in action”
Nelsen will know all about Ephraim from their time together at Loftus Road, while the Reds are also keen to take a closer look at trialists Bostock and Earnshaw. Bostock is already in Toronto, while Earnshaw is set to arrive on Wednesday.
"[Earnshaw] arrives to take a look at us and for us to take a look at him to see if that's a fit that might work," TFC president and general manager Kevin Payne told the official MLS website.
"It's a little too early to tell if that's going to happen."