Taarabt is reportedly the subject of interest from Premier League rivals Arsenal and Chelsea, while Real Madrid, Atletico Madrid and Paris Saint-Germain have also been linked to the 22-year-old.
French side PSG are reported to have tabled a £13.5 million (US$21.8) bid for the player, and Warnock told the Evening Standard that he believed a transfer taking the player to France remained most likely.
"He is missing his family in Marseille," Warnock told the paper. "If we get a big offer from a club in France that obviously gives him a chance to be closer to them. That would be a big pull.
"PSG have made an enquiry and they obviously offer him the chance to be nearer to home, although there is a Spanish club being mentioned as well.
"As far as his talk of wanting to go to Chelsea or Arsenal, I know he has a lot of friends at Arsenal.
"Flavio Briatore (QPR's co-owner) is dealing with the negotiations. He is keeping me informed of the situation and at this precise moment he won't be leaving because no one has met the asking price."
Taarabt moved to England in 2007 after progressing through the ranks at Lens.
The midfielder flopped at Tottenham but blossomed under Warnock after moving to west London.
Warnock, who successfully guided QPR to Premier League promotion, believes Taarabt would regret leaving.
"My advice to him is to stay until Christmas, get some experience and show people what he can do. That may fall on deaf ears unfortunately. It's sad.
"I don't think I have ever spent so much time trying to get the best out of one individual and I think he will regret leaving," Warnock said.
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Source: AFP
Source: AFP