The France international saw a move to Liverpool fall through last month, having spent the 2013/14 season on loan at Newcastle United..
|2/1||QPR are 2/1 with Bet365 to be relegated|
"We hope he'll stay," he told reporters. "He's a fantastic player and his attitude has been first class, but you never know. I'm not trying to sell him because we don't want to sell him.
"To have lost him for the amount that we were going to would have been too cheap, so to have him back is fantastic.
"When I looked at what he was going to go for, he was a fantastic buy for Liverpool at that price, so their loss is our gain.
"I don't think Loic would leave us late on. He's too decent a guy to walk away in the last week of the transfer window"
One man who appears destined for the QPR exit door is Adel Taarabt, who Redknapp revealed had not trained during pre-season.
"I don't know what he's going to be doing to be honest," he added. "He's not fit.
"Adel hasn't done one day's training since we got back in pre-season. He just needs to get fit, whether he's here or not.
"I think he's looking to move. If anybody wants to buy him for that money then they have to pay the money.
"We just need a club to come in and pay the money that the chairman is looking for."
Discussing a long list of rumoured transfer targets, Redknapp described a deal for former Swansea City loanee Jonathan de Guzman as "possible", but rubbished reports linking him with a move for Barcelona's Alex Song.
QPR begin their Premier League campaign against Hull City on Saturday.