The warning comes after Drake and Perkins' beef in the Cavs-Raptors' Game 1.
Kiki Vandeweghe, the NBA's executive vice president of basketball operations, talked to Raptors president Masai Ujiri about the issue, reports ESPN.
The Canadian rapper is a huge Raptors fan and is often seen sitting courtside at Toronto home games.
He first exchanged words with Perkins at halftime during Game 1 on Tuesday night.
After Cleveland took the 113-112 overtime win, the rapper and the Cavaliers' center argued again before being separated.
When asked about Drake's warning, Perkins told ESPN he was "here to support my teammates."
"I'm here to represent the Cleveland Cavaliers," Perkins said. "At the end of the day, it isn't about Perk versus Drake; that doesn't even sound right. It's the Cleveland Cavaliers versus the Toronto Raptors. Besides, what could he possibly do to me? I mean, really. If he leaves me alone, I'll leave him alone, and that's all there is."
Game 2 between the Cavs and Raptors is on Thursday night in Toronto. You can follow the game here.