The 66-year-old was relieved of his duties yesterday after defeat to Southampton.
The 66-year-old has been sacked for the second time by Palace in the past four years and was only appointed in August of this year, controversially replacing the popular Tony Pulis at Selhurst Park.
But after the 3-1 defeat to Southampton on Boxing Day Palace slipped into the bottom three, and have not won a game in six, since they defeated Liverpool 3-1 at the end of November. Prior to that they had not won a game in another five games, so Palace clearly needed to make a change at the top of the table.
The search is now on for a replacement and they have a tricky period ahead of them, with games against QPR and Aston Villa in the next few days.
A managerial appointment is needed fast, however they need to ensure that this time they make the right appointment.
Last time fans were not best pleased with Warnock's arrival and the departure of Pulis, who, in a shirt space of time became a hero at Selhurst Park.
Here is some of the fan reaction to his sacking...
Warnock out! Good riddance. Doesn't reflect well on Parish though.— Oscar Williams-Grut (@OscarWGrut) December 27, 2014
Good riddance Warnock you baboon— Chris Plume (@cjplume) December 27, 2014
I hope this is not some sort of joke #cpfc good riddance warnock— Mart (@martwin1) December 27, 2014
Thank God for that! Bye Warnock!! Unfathomable appointment in the first place! Kick on from here #COYE— Craig Adley (@CraigDrake19) December 27, 2014