Marketing has previously reported that Fernandes was in talks with the football club, which was promoted to the Premier League this year, over a possible £100m purchase.
It is understood that QPR will announce details of Fernandes' acquisition of a majority stake in the club this week.
Fernandes has previously held talks with QPR’s key investors Bernie Ecclestone and Flavio Briatore over buying into the London-based club.
Ecclestone holds a 62% stake in the club and has stated he is willing to sell.
The football club made a loss of £13.7m last year and £18.8m in 2008-2009.
Fernandes, who is also the Team Lotus Formula One boss, has previously claimed he made an offer to buy West Ham United.
Separately, a spokesman for the club said QPR, which played its opening game of the new season on Saturday without a shirt sponsor, was close to signing up a brand to sponsor its shirts.
However, the club would not disclose further details