The Nerazzurri have reportedly accepted an offer from Loftus Road, with the player set to arrive in London on Tuesday to try and agree personal terms with Rangers.
Belfodil joined Inter in the summer following an impressive season with Parma, but he has largely struggled to prove his worth at Stadio Giuseppe Meazza.
The Algerian went on to start just one Serie A fixture, while making another seven substitute appearances, and he last featured for the Nerazzurri at the start of December.
Belfodil is, therefore, hoping to quit the Italian giants in January in search of first team football, with this year’s World Cup also on his mind.
Having failed to win any of their last four league outings, Inter trail third-placed Napoli by no less than 11 points, with Walter Mazzarri’s side 14/1 for a top 3 finish.