The 38-year-old's move into the ring is being backed by betting company Betfair, which announced the news on Tuesday.
Former Manchester United and England defender Ferdinand works as a TV pundit and he has his own clothing line.
"I'm doing this because it's a challenge," he said. "I've won titles and now I'm aiming for a belt."
He has posted several social media videos in recent months showing him boxing and working with personal trainer Mel Deane.
Ferdinand, who won the Premier League six times and the Champions League once during his time in Manchester, may follow in the footsteps of former Birmingham City midfielder Curtis Woodhouse and former Crystal Palace forward Leon McKenzie, who became professional boxers after quitting football. Woodhouse became British super-lightweight champion.
STARS WHO SWITCHED SPORTS
Former England cricket captain Andrew Flintoff also launched a boxing career after retiring, winning his only pro bout in December 2012 against American Richard Dawson at Manchester Arena on points.
It was Betfair who approached Ferdinand about making the switch, and the betting company will help him qualify for his British Boxing Board of Control (BBBC) licence before he begins training and competing.
The company previously backed Victoria Pendleton in her transition from Olympic cyclist to Cheltenham jockey.
"When Betfair approached me about the challenge, the chance to prove myself in a new sport was a real draw," Ferdinand added.
BBBC general secretary Robert Smith said they had not yet received an application from Ferdinand for a boxer's licence.
"I was completely surprised," he said. "We don't have an application, so there's nothing to consider. Nor have we had any conversation with anybody regarding this. It's laughable... he could get himself badly hurt'
-Reuters