The St James's Park favourite has big fears for his beloved club ahead of a crucial final day in the Premier League.
The former England striker blamed the Netherlands international for his part in the lead up to QPR's second goal, a fine strike from Leroy Fer that turned out to be the winner, with the 27-year-old's clearance failing to make it out of his own half.
"Tim Krul has had a really poor second half of the season," Shearer said. "Newcastle did well in the first half but once QPR scored you saw players shrink.
“A poor kick there (clearance from Krul), they lose the tackle, it’s a fantastic striker from Fer and the goalkeeper has no chance but his kick should have been over the halfway line.
"With Newcastle's form...you can't see them winning anything. They will probably have to rely on Hull not winning to stay up."
The Dutchman was at the club during Shearer's short spell as caretaker manager in 2009, but didn't really begin to feature for the Toon until they were promoted to the Premier League the next year. However, since then he has grown into a fine goalkeeper, making 175 appearances for Newcastle.
John Carver's side have picked up one point in the last ten games, and will now go into their final game of the season against West Ham hoping Hull City fail to beat Manchester United.
If Newcastle do as they've been doing for the last few games, there may be little hope of a win, and that will see them relegated if the Tigers are victorious.