The R's got their Championship campaign underway last weekend with a 2-1 win against Sheffield Wednesday.
Austin, who recently arrived at Loftus Road from Burnley for around £4m, believes that he can aid the team in making their return to the top flight.
"I've come here to help this club get back to where we all feel it belongs," Austin told QPR's official website.
"QPR are a big club in this division and the quality we've got and the players the manager has signed shows the intent of the owners.
"That's why I came to QPR – to give myself the maximum opportunity to get out of this league and I don't see any reason why we can't do that."
Austin scored his first goal for Rangers in Tuesday's 2-0 victory over Exeter City in the Capital One Cup.