Blatter has apologised but said he would not quit after sparking outrage, notably in England where the FA is dealing with two high-profile racism allegations, for saying instances of racist abuse on the pitch should be settled by a handshake.
"Racism does happen on the field of play and the shaking of a hand just doesn't put it right," Warnock, whose defender Anton Ferdinand is at the centre of a police investigation after Chelsea's John Terry was accused of racially abusing him during a game, told a news conference.
"But who is going to sack him? I don't see that anybody is going to sack him.
"I think the only way we could get him out of the situation that he is in if every black player in the country, in every country, refused to play in the next international game.
"That's the only way. Nothing else is going to get him out until he wants to go."
While the English FA and other managers welcomed Blatter's apology, Warnock questioned his sincerity.
"He's a clever old man. You can make any apology sound sincere if you want to," Warnock said.
"I don't think he'll give two hoots if I'm honest. Not about England. Some of the other countries put [racism] under the carpet.
"I look at Spain and it is not as vital or major an issue over there like it is in England."
IRRESPONSIBLE COMMENTS
FA Chairman David Bernstein said in a statement that Blatter's apology had been "necessary."
"His initial comments were wrong and irresponsible," he said on the English governing body's website.
"As I have said many times in the past, with power comes responsibility and I - with others in prominent positions in the game - have to make sure we live up to the values of which we speak.
"I am mindful that - this week's comments aside - FIFA as an organisation does much good work around the world. The organisation has made great strides in fighting racism as have many national football federations."
Blatter's comments were widely condemned by players and managers and even British Prime Minister David Cameron before Friday's apology.
"Sepp Blatter has apologised and that's fine," Manchester United manager Sir Alex Ferguson told a news conference.
Chelsea manager Andre Villas-Boas said Blatter would never have needed to say sorry if he had thought before speaking in the first place.
"When somebody asks sorry, first you have to avoid saying those things, if you say sorry it's because you made a mistake," he told a news conference.
"We all agree that Sepp Blatter has made mistakes in his comments and doesn't set a good standard but has [been] humble in his actions to retract his words."
