The 27-year old French striker is currently on a season-long loan with Newcastle United, where he has scored 13 Premier League goals this term, which has prompted major doubts over his future with the R's.
Redknapp expects Remy to depart Loftus Road at the end of the campaign but stopped short of suggesting where the former Nice and Marseille ace would end up.
"Remy wants to play Champions League football next season, so they tell me. The chances of us keeping him are not great if he's got a buy-out clause," said Redknapp.
"He's done well at Newcastle, and one or two other big clubs are trying to get him, so there's every chance he will go. I chased him at Tottenham, and I knew he would do well.
"He's a scorer, and with the right team pushing to get in the top four, he's capable of getting 20 goals. If I say he's worth £20m, and his buy-out clause is £10m or whatever, then it's difficult."
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