The west Londoners claimed to have agreed compensation with Palace for Warnock, who is expected to take coaches Keith Curle and Mick Jones with him to Rangers after caretaker boss Mick Harford and his assistant Tony Coton left on Monday.
But Brendan Guilfoyle, the administrator at Selhurst Park, has issued a statement claiming the move is yet to be finalised.
"The club is aware of the statement issued by Queens Park Rangers last night," said Guilfoyle.
"The club believes that this is somewhat premature.
"Discussions are ongoing regarding the release of Neil Warnock and members of his managerial team but these remain subject to agreement of relevant documentation."
Paul Hart, who was in charge at Loftus Road for a month before walking out in January, has emerged as a candidate for the vacant Palace job.
West Brom 11/10, Draw 9/4, Q.P.R. 5/2
Source: Team Talk
Source: Team Talk