There were rumours that Woodgate’s career could have been over at the start of the season when he was not named in Spurs' 25-man Premier League squad, but he is now going through a pre-season training schedule.
Redknapp is delighted with his defender's progress and has hailed his determination to get back to full fitness.
Speaking to The Sun, Redknapp said: "It's fantastic for him.
"It's the first time in 18 months or so that there's a bit of light at the end of the tunnel for him."
Asked if he could play this season, Redknapp added: "He could do, if he keeps progressing."