The move will be made permanent if QPR secure promotion to the Premier League at the end of the season.
The 25-year-old made a total of 26 appearances for the Magpies, scoring three goals.
The former England Under-21 international began his career at Crystal Palace and also played for Tottenham Hotspur and Aston Villa before signing for Rangers after a loan spell at Cardiff City in January 2009.
Alan Pardew: "We have a few irons in the fire, but I won't be naming names.
"After the disappointment of last week when we thought we had a done deal for a player, nothing is ever certain in football.
"We can only hope something happens very soon."