The experienced midfielder has been searching for a new club since his deal with Chelsea expired in June, and he reportedly rejected a number of clubs from the Premier League and Championship.
La Liga sides Getafe and Malaga were also keen, but talkSPORT understands that QPR are set to win the race for the winger’s signature.
Harry Redknapp has reportedly persuaded the 33-year-old to sign a two-year deal with the Championship side, with Benayoun set to undergo a medical in the coming days.
The former Israel international has a wealth of Premiership experience, having represented West Ham, Liverpool, Chelsea and Arsenal.
Benayoun, who had played for Hapoel Be’er Sheva and Maccabi Haifa in Israel, has amassed a total of 194 Premier League appearances, and scored 31 goals in the process.