Speculation surrounding the Argentine's future has been rife, and it emerged this week that Italian club Palermo had seen a bid for the player rejected.
Redknapp was keen to make clear ahead of Saturday's clash with former side Tottenham that he does not want to lose Faurlin.
"I'm not really looking to sell him," said the R's manager.
"He's a smashing boy and a good footballer. He never caused any problems.
"I've spoken to him and unless the situation changes and we sign two or three top, top midfielders, he is part of my plans."