"He'd set the place alight and the fans would love him. You could bring a couple of experienced people in alongside him and it wouldn't be a problem for him.
"Because of what he means to the place and what the fans think of him and what a player he's been, he'd be absolutely perfect. I wouldn't want to see any further than Alan Shearer."
Redknapp went on to dismiss suggestions he had rejected a reputed £5million salary to move to the north-east for any other reasons than his desire to remain at Fratton Park.
Redknapp added: "It was a great opportunity for me to go and manage one of the great football clubs. I understand all that. Some people will say I made the right move and some people will say I should have taken it.
"Everyone's got their own opinions but we all have our own lives. Everybody's got to do what they want to do with their own life, and I love my life.
"I enjoy going to work every day. If I didn't like the place, if I didn't like the owner or if I didn't like the players I'd have been up there like a shot, but there was no need for me to change."