The Rams have made no secret of their desire to make it into the Premier League, and Warnock feels that they have the quality required to finish in the automatic promotion spots.
The defender admits that his side will need to keep on improving if they are to hit their lofty targets, but feels that the talent in their squad should shine through over the course of the campaign.
"If we carry on progressing how we know we can, with the players we've got, we hope to finish in the automatic promotion places," he said.
Derby are currently in ninth place in the Championship table, having made a slow start to the new season under the guidance of Paul Clement.
It took a while for Clement's methods to have an impact at the iPro, but it seems that the side are starting to find their groove now.
Although the Rams' performances have been far short of their best, they are unbeaten in four games and have won their last three away fixtures.
Derby's next match comes at home against a struggling Brentford side on Saturday, and they will be keen to pick up their first victory in front of their own supporters.