Owner Tony Fernandes decided to take drastic action after a run of just two points from eight league games left the Hoops firmly in a relegation battle.
There is a great deal of sympathy for Warnock, who despite often causing controversy with his outspoken views deserves great credit for taking the club into the Premier League.
However, Fernandes has decided to put his faith into a manager that he feels shares the same ambition as himself for the West London outfit.
The Malaysian owner of car firm Lotus is preparing to invest big into the club as well as having a new stadium built, and will know that relegation will damage those aspirations.
Hughes has been out of management since quitting Fulham in the summer after guiding the Cottagers to a top-eight finish in his sole season in charge.
When he left Craven Cottage, the Welshman cited that the club didn’t share the same ambition that he had – so Hughes and Fernandes may be a match made in heaven.
However, before either men get ideas of long-term aspirations at Loftus Road, they have to ensure the short-term aim of survival is achieved – and at this time QPR are in a real dogfight.
Defeat in Hughes’ first game in charge away to Newcastle on Sunday means that Rangers now find themselves in the bottom three as their miserable run continued.
Now the former Blackburn and Manchester City boss has two weeks remaining in the January transfer window to make the improvements he feels is necessary to keep QPR in the top-flight.
One of the first areas targeted has been in defence, where the side have failed to keep a clean sheet in their last 13 matches.
Fernandes has wasted no time in backing his manager, agreeing a fee with Chelsea for Alex and making two bids for Blackburn defender Christopher Samba, which were both rejected by Rovers.
In midfield strength in depth is lacking following the knee injury to key midfielder Alejandro Faurlin that has ruled the Argentine out for the rest of the season.
They have had a bid spurned by Tottenham for Steven Pienaar, while also making clear that Joey Barton will play a big part in their survival push after he was linked with a move away this month.
But the biggest area of concern for Hughes has to be up front, where despite having decent attacking options goals have been hard to come by.
Although they contain the likes of DJ Campbell, Heidar Helguson and Jay Bothroyd, QPR have scored just 19 goals this season.
They have been linked with a host of names, from familiar Premier League players such as Andy Johnson and Darren Bent, to unknown quantities like young Brazilian goalscoring sensation Henrique.
Whoever Hughes brings in will need to improve on their profligate nature in front of goal if his new squad are to climb out of the bottom three.
For many sides the January transfer window can be an unwelcome distraction. For Hughes and Fernandes, it could define their long and short-term plans for QPR.
So what do you think? Who should Hughes look to bring in this month to get QPR climbing out of trouble? Leave a comment and let us know your views.