Joe Jordan, another member of Redknapp's backroom staff, has also left, the Premier League club said in a statement.
Kevin Bond, once Redknapp's assistant at Tottenham Hotspur, will be in temporary charge of the team along with Chris Ramsey for the home match against Southampton on Saturday.
Redknapp resigned on Tuesday, saying his knees had become too painful to allow him to do the job.
Ferdinand, who returned to the club as head of football operations in October, will work more closely with the first team as the club looks to recruit younger players, chairman Tony Fernandes said.
"Les bleeds blue and white and working closely with the first team and academy management, particularly in recruitment, he is going to play a key role in moving us forward over the coming months and years," he said.
"This is a new strategy for us. Our recruitment policy at QPR is changing. We want to develop a philosophy of buying young, hungry players."
Ferdinand, 48, began his professional career at QPR, scoring nearly 100 goals for the club before successful spells with Newcastle United and Tottenham Hotspur.
"Everyone knows what this club means to me and if anything the last few months have only enhanced the feelings I have for QPR," former England striker Ferdiannd said.
(Reporting by Martyn Herman; editing by Sudipto Ganguly)
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