Redknapp, who was recently appointed a Sky Sports Fantasy Football ambassador, said: "I suppose City will be favourites and then Man Utd, Chelsea and Tottenham again.
"Arsenal will be in for a tough season this year if they lose Van Persie, I think they've got it all to do and Tottenham could finish above them this year.
"[Sir Alex Ferguson] will want to win a trophy this year and they'll push Man City all the way.
"I think Liverpool will do better. People say there's a long rebuilding process going on at the club, but they'll be there. They've got fantastic players in my opinion - [Luis] Suarez, [Andy] Carroll, [Steven] Gerrard, [Jamie] Carragher, Glen Johnson, a great goalkeeper in Pepe Reina and some good central defenders. They should be pushing for the top four."