Fernando Alonso took Ferrari's first win of 2011 in Britain with McLaren's Lewis Hamilton only coming fourth and Jenson Button being enforced to retire.
But McLaren managing director Jonathan Neale said: "We are not unsettled.
"Up until the last week we were the only ones putting up a believable fight against Red Bull."
Alonso benefited from enhanced race pace and a pit-stop error from Red Bull's leader Sebastian Vettel to win at Silverstone.
Neale shrugged off the suggestion that McLaren, who have been Red Bull's closest rivals on track in the first half of the season, have now been overtaken by Ferrari.
"I sincerely hope not," Neale responded.
"Ferrari have made steady progress over the last four or five races in qualifying. In the latter part of the [Silverstone] race as [the track] dried up, Alonso was talented to show the underlying pace difference. We are watchful of that and not at all complacent.
"Lewis and Jenson did a unbelievable and aggressive job out there racing and, but for other factors, we should have had both cars around second and fourth and we might feel differently about the whole grand prix."
While wet weather affected performance at Silverstone, McLaren say an FIA order to restrict the use of exhaust gases to generate down force had a major impact on the competitiveness of their car.