After a combative start to the campaign, the Loftus Road outfit have found the going in the English top flight difficult, and currently hold 17th place in the standings, a point above the drop-zone.
With club owner Tony Fernandes worried about the team’s chances of staying in the division, the London club have announced that they have parted company with Warnock.
“This decision has been made in the best interests of the club and I can assure everyone that this is not a decision that was made lightly,” Fernandes told the club’s official website.
“Sadly, our recent run of poor form has seen us slip alarmingly down the table and the board felt it was the right time to make a change.
“Neil has acted with honesty, professionalism and integrity throughout his time at the club, and I would personally like to thank him for his significant contribution to QPR over the last 22 months.
“I genuinely wish him all the very best for the future and he will always be welcome back at Loftus Road,” the executive concluded.
Mark Hughes and Steve Bruce are believed to be amongst the front-runners for the vacant position.
By Gareth McKnight