The Tottenham man is understood to have had a medical at Loftus Road, and is set to drop down to the Championship just 18 months after captaining his country at Wembley.
Parker was selected as England’s Player of the Year by supporters in February 2012, and started every game of Euro 2012 under Roy Hodgson.
However last season he found himself on the fringes of the Tottenham first team, and following the additions of Paulinho and Etienne Capoue to the Spurs midfield, the 32-year-old has opted to make the switch to West London in search of regular first team football.
The move will see Parker reunited with Harry Redknapp, who he played under at Tottenham for two years.
Redknapp signed Parker on the back of the midfielder being named the Football Writers’ Player of the Year, after his performances for West Ham during the 2010/2011 Premier League season.
Parker will be Redknapp’s sixth signing of the summer, as the former Portsmouth manager looks to build a squad capable of winning promotion at the first time of asking.
West Ham United and newly promoted Crystal Palace were also understood to have been chasing Parker, but Redknapp hopes the midfielder will be able to make his debut in the upcoming league game against Ipswich Town on Saturday.
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