Redknapp sold the Moroccan playmaker to the R's in 2010 whilst at the helm at Tottenham and there are fears that the same could happen now he has taken the Loftus Road job.
But the 65-year old has eased the panic that might be felt by Taarabt by saying he is a key member of the QPR squad inherited from Mark Hughes.
"He was alright with me, Adel," Redknapp told reporters. "I think he has improved. His attitude is good and he has got bags of ability.
"I wouldn't have let him go, in all honesty - I said that at the time - I would have kept him at Tottenham. It was just he couldn't get into the side and the chairman decided if he wasn't going to play, we might as well sell him and get a big sell-on if he made a success at QPR.
"That's why I let him go. I would have kept him around because I always felt he was a player you could bring off the bench and he could change a game for you. But Adel is okay. He's got a part to play for us, for sure."