Recent reports have suggested that Redknapp could be in the frame for a return to Upton Park should the under-fire Sam Allardyce lose his job at West Ham.
Allardyce's future has been the subject of intense speculation in recent days after seeing them lose 5-0 to Nottingham Forest in the FA Cup and also slip into the bottom two in the Premier League.
However, West Ham co-owners David Gold and David Sullivan have given Allardyce their backing and insist they have no plans to axe the manager.
Redknapp, who managed West Ham between 1994-2001, is among the bookmakers' favourites to replace Allardyce should Gold and Sullivan lose patience with the Hammers boss, but the Loftus Road chief has laughed off the links and insists he is happy with life at QPR.
"I don't know where they get their stupid odds from," Redknapp told the London Evening Standard. "I wouldn't take 33/1!
"They've got a good manager in Sam, so I don't see that happening.
"I'm very happy managing QPR and lucky to be at such a good club."