Warnock, who now manages QPR, told BBC Cornwall: "If I can use my experience and help them in any way I will do.
"I've spoken to a couple of people and said 'please get involved, please help Plymouth Argyle' - it's a good club."
Warnock, who has a second home in Cornwall, added: "They've just got to get over this difficult period.
"I'm convinced that they can and I know that there's people around and about."
Plymouth Argyle and a related company, Home Park Properties, were both issued with winding-up petitions by HM Revenue & Customs in October.
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The club recorded a £2.8m loss for the 2008/09 financial year and were previously issued with a winding-up order for unpaid tax by HM Revenue & Customs last season.
Warnock spent two years as manager at Home Park from 1995-97, leading Argyle to promotion to English football's second tier via a 1-0 play-off win over Darlington at Wembley.
He has recent experience of managing a club under financial constraints, having been with Crystal Palace when they were placed in administration in January.
He said: "In the modern game, especially at the top levels, money is so important and it's always been difficult to get the right people to invest in Plymouth.
"Over the years, they've had people who've said they'll do this and do that but until the money's on the table I don't think anybody know who has got what.
"I think they've been let down a little bit - the board and people like that - over the last few years, so I do hope they sort it out because it's not a nice situation."
Warnock added: "As long as they've got good people around then they'll sort it out."
On the pitch, Argyle sit 15th in League One, just three points above the relegation zone, and just 4,960 fans watched them beat Dagenham & Redbridge 2-1 on Tuesday, their lowest gate of the season.
Source: BBC Sport
Source: BBC Sport