The 63-year-old has managed the veteran twice previously, during his spell in charge at Crystal Palace, before bringing him to Loftus Road in 2010.
And Hill who will be available on a free transfer, has experience at winning the Championship after being part of the R’s side who romped to the title in 2011, as the team accumulated 25 league clean sheets.
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"He had a very good season. He came into the team at the end of the season and I think he has held them [QPR] together.
"There are a number of players if you look at the Bosman list, in particular three or four players on Bosmans, that have got experience and Clint is one of those as well.
"I am sure he will be inundated with club's if that's the situation."
Warnock has already been busy in the transfer window after capturing the signature of Jason Pearce from Portsmouth and is reportedly keen desperate to add some experience to his squad after a disappointing season at Elland Road.
"There is no movement on anything at the minute,” he added.
"We managed to get one in and we are discussing quite a number of targets at the moment.
"It is such a long summer we have got three months and all clubs are wary of doing too much early on, but definitely we would like to sign another one or two in the next seven days."