Redknapp believes that both Manchester United and Manchester City have appointed the best managers in the world in Jose Mourinho and Pep Guardiola over the summer and also have the best players in the league.
The 69-year-old also added that United manager Mourinho has a big ego, and he will have a point to prove following his disastrous exit from Chelsea last season, while indicating that the Portuguese and his Spanish counterpart Guardiola will have no trouble lifting their respective teams this term.
He said: "We all know he has a big ego and like most people, he doesn't like being criticised. He would not have enjoyed being in charge of an unsuccessful team.
"Sometimes it does you good, if you keep winning every week and then you have to learn how to get beaten every week. But he has always managed a top team.
"He is a great manager, a character and his record puts him up there. Who is the best manager in the world at the moment? His record will probably tell you it is him or Pep Guardiola.
"The key thing is that he has good players – just as Guardiola has at Manchester City. He is not walking into Hull, with 13 players. To take over one of the big six teams, it is not hard to do well."