Between 2,000 and 4,500 elephants are being killed for their tusks each year in Cameroon, the Central African Republic, the Democratic Republic of Congo and Gabon to supply Asian and African ivory markets, the report said.
Commissioned by British-based Care for the Wild International and Save the Elephants, the report said China's demand for ivory is the greatest threat to Africa's jumbos.
Three-quarters of the 5,000 to 12,000 elephants poached worldwide every year are killed in Africa, where illegal hunting is growing despite tightened restrictions and government vows to stamp out the trade.
Esmond Martin and Daniel Stiles, elephant experts who conducted the two-year study on which the report is based, said China is now the largest importer of illegal African ivory.
"China is the number one importer of elephants and most of those being poached come from Central Africa," Martin said, predicting catastrophe should the rising Chinese middle class "ever adopt ivory as a fashion number."
"The resulting demand could trigger a price rise that could destabilize the elephant situation in Africa and Asia," he added.