The Eagles stretched their unbeaten run to three games against their local rivals at a wet and freezing Selhurst Park on Saturday.
Craig Beattie came close to snatching a precious win for the hosts in stoppage time when his low shot was spilled by goalkeeper Radek Cerny, but in truth this was a game neither side deserved to win.
Palace are just two points off the top six, despite slipping to 13th in the table following this stalemate.
Warnock led the south Londoners to the play-offs last term, having taken over when they were languishing in the relegation zone, and he is convinced his young side can challenge again.
"It was about this time last year that we started our run, and that came after a home draw against QPR as well," he said.
"I think it's well within our reach to do the same this season.
"Clubs like QPR have got the finances but we've got the squad and the management to get there so I'm sure we can play a part.
"We're working very hard and are just starting to get things together. We're looking to win games away from home and while we'll make mistakes I think we can still be very optimistic.
"I don't set targets as such but realistically, we want to be one of the teams who are up there at the end of the season.
"We've got some momentum going now and we're playing quite well now. I certainly wouldn't want to play us at the minute."
New QPR manager Paulo Sousa admitted the match was a far cry from his halcyon days as a player, which included Champions League triumphs with Juventus and Borussia Dortmund.
But the Portuguese maintained he was proud of his side's efforts and believes they would have been celebrating their first away win since September had loan signing Heidar Helguson not sliced wide of an open goal from 30 yards early in the second half.
"Of course this sort of game is different - a very different style to the places I played," Sousa said.
"Everything is different but I am already adjusting to it.
"I think we controlled the game and we had a clear chance to win it with Helguson, but we couldn't take it.
"I am proud of the side because we have changed our ideas and way of playing in just a few training sessions and that is difficult to do.
"We have made a big jump and we are in a good way. I hope in the next game that we can go one better and win the match.
"The team is growing and developing. In the future, I hope we will be better and have more quality in games like this. I am sure about that."
Sporting Life