While former Reading boss Brian McDermott has been tipped to move to Elland Road, Warnock claims that Mark Hughes, who took over from Warnock at Queens Park Rangers for a brief spell last year, may want to take the Leeds vacancy.
"I personally hope Mark Hughes follows me again and destroys another team of mine," Warnock told talkSPORT.
"I don't think it's a club for a young manager. There is so much going on behind the scenes it is ridiculous really. It needs somebody who has seen it all and done it all.
"I laugh when I see some of these names. A) We can't afford the compensation [to entice a big name manager] and B) do you think Mark Hughes would want Leeds United at the moment? It's a hard one but there are a lot of applicants."
Hughes has been out of work since getting sacked by QPR earlier this season.