The 65-year-old is poised to take over the reins at Loftus Road after Mark Hughes was sacked on Friday morning, and is on the brink of agreeing a deal following a day of negotiations.
Rangers are four points adrift at the bottom of the table after failing to win any of their opening 12 matches but Redknapp believes he can guide them to safety.
"I'm hopeful we can get it done tonight, there shouldn't be any problems," said Redknapp, who has been out of work since leaving Tottenham in the summer.
"I fancy getting back into the Premier League. QPR is a good club, with great fans and a great atmosphere.
"I am looking forward to it. It's a big challenge. It will be a tough job to take on but I am up for the challenge."
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