Park moved to Loftus Road from Manchester United as one of a number of new arrivals under Mark Hughes last summer but failed to save the club from the drop.
That has prompted another squad overhaul with the likes of Djibril Cisse, Christopher Samba and Adel Taarabt all leaving.
The deal, which is subject to a work permit being obtained for the former South Korea international, will see 32-year-old Park move back to a club he represented between 2003 and 2005.
His arrival at the Philips Stadion comes at time when the Eredivisie club are undergoing a squad reconstruction of their own.
Kevin Strootman, Dries Mertens, Erik Pieters and Jeremain Lens have all left with coach Phillip Cocu bringing in Stijn Schaars, Santiago Arias, Florian Jozefzoon, Adam Maher, Karim Rekik and Jeffrey Bruma.