Hill has captained the Hoops under manager Harry Redknapp in recent weeks despite Park Ji-sung's return to fitness.
"Clint is a great character, a good lad and a fantastic professional," Redknapp told www.qpr.co.uk.
"He leads by example and has been superb for me since the moment I walked through the door.
"You know what you're going to get from Clint when he plays and that's 100%. He puts his body on the line for the club and that's what we need.
"We are in a battle to stay in the Premier League and we need players like him."
The 34-year-old has made 89 appearances for QPR since moving to Loftus Road on a free transfer in June 2010.
He said: "It's a very proud moment for me.
"I'm honoured and privileged. I'm sure it will be something I look back on in years to come with great admiration.
"Ji and Ryan (Nelsen) have both had the honour of captaining the side this season and I'm relishing following in their footsteps."
- Sports & Recreation