The Cherries are looking for a new boss after parting company with Paul Groves and his assistant Shaun Brooks on Wednesday.
But, when asked about the possibility of taking over, Redknapp, who holds an advisory position within the club, told BBC Radio Five: "Not a chance, not a prayer. That is definitely not on my agenda.
"I was asked if I would get a little bit involved. I haven't really got involved at all, to be honest. The manager Paul Groves and Shaun Brooks are good friends of mine. They've both worked for me and played for me at different times.
"But I didn't even find the time to get down there. I've had lots of stuff on.
"I love the club - it's my local club and I really want to see them succeed. I hope they make a good appointment now. They've lost two good people, in my opinion, in Grovesy and Shaun Brooks. I hope they make a good decision."