The Yorkshire outfit have been inconsistent this season, yet still sit just six points away from the Championship playoffs, and Warnock has insisted that the club might have been worse off under another manager's leadership.
The former Queens Park Rangers boss told BBC Radio Leeds: "I'm not sure how many managers would have coped with the vast amount of changes and had us challenging.
"I think we had three in the squad who were in the first XI at the end of last season. I don't think people realise that. It is easy to criticise but the Championship is a tough league and you have to walk before you can run.
"We could have had another 10 points this season, so it is frustrating but it could be worse. I couldn't see where the next win was coming from a few weeks ago."
Warnock revealed earlier this year that he would leave Leeds at the end of the season if they do not achieve promotion.