The 57-year-old former Nottingham Forest boss also praised the talent in the Wednesday squad and expressed his love for a competition that saw them run out 5-1 winners over Swansea City in the third round.
QPR have enjoyed a mixed season so far and sit 14th in the Championship, but ran out 2-1 winners in the Hillsborough league fixture between the two sides in August.
Asked how seriously he intends to take the fourth round match-up – like Wednesday, QPR face a Championship fixture on Tuesday – Warburton said: "The FA Cup for me is a magnificent tournament so I want to be in the hat.
"That's where I want to be and I'm sure Garry is exactly the same.
"We know what we face, they've lost one or two but they've got a very talented squad superbly managed by Garry and they will be a really tough task.”
QPR reached the fifth round last season for the first time since 1997 before they were narrowly edged out 1-0 by eventual runners-up Watford.
And Warburton suggested that while that success has given them a hunger for more success this time out, decisions will be made over the fitness of some of his squad with a trip to Blackburn waiting on Tuesday.
He said: "Again we're at home on Friday night in the FA Cup and have the chance to go in the hat so why would you not want to be up for the game?
"You have to look after your squad, the league is so demanding in terms of the fixtures and the pressure it puts on players.
"You have to make sure you respond accordingly but I want to win that game on Friday night.
"There's the chance for the supporters to get a glamour tie in the fifth round and you're only so many games away from Wembley so why not?"