Hugill was sold by PNE to the Hammers for £9.5m in January 2018 but has made only three substitute appearances for the East London club.
He spent last season on loan at Middesbrough and will now spend the 2019/20 campaign at Loftus Road.
Hugill was linked with a number of Championship clubs as he was touted around for a new home over the summer, with North End, Wigan Athletic, Leeds and Bristol City all reported by the media to have an interest.
Wigan were believed to have agreed a fee for the striker but couldn't get near his wage demands.
North End were contacted by Hugill's agent about a return but their focus in the transfer market is on a forward player to operate in the wider role which Callum Robinson previously did.
Reports of them making a bid for 27-year-old Hugill were wide of the mark.