Managing England in future is no longer an ambition, with Redknapp optimistic that, by the time Hodgson moves on, there will be numerous young English candidates for the role.
"I wouldn't see that as a goal," Redknapp told PA Sport.
"I think Roy will do a good job and I don't see any reason why he shouldn't keep the job for the next few years.
"Then hopefully another young English manager will come through the system somewhere and take the job when Roy's finished with it.
"I'd love to see another English manager after Roy's finished.
"There's got to be another young guy who deserves the opportunity.
"Let's hope we can produce plenty of English managers on the conveyor belt for years to come."
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