The 64-year-old penned a four-year contract and will leave West Brom after their remaining two league matches, in time to lead the Three Lions in this summer’s Euro 2012 tournament in Poland and Ukraine.
Redknapp was thought to be the leading candidate to fill the void left by Fabio Capello’s departure, but the former Liverpool and Fulham boss landed the position and is keen to remain friends with the Spurs manager.
"I've got great respect for Harry," Hodgson told reporters at a press conference held at Wembley Stadium to announce his appointment.
"He sent me a voicemail message which I shall obviously reply to. He's been very gracious in everything he's done.
"I hope that we will remain friends. We have unwittingly become rivals, I hope it won't effect our friendship and I think he's dealt with the situation extremely well in his interviews and I appreciate he's sent me a message."
How do you stay up to date with football when on the move? With http://m.goal.com – your best source for mobile coverage of the beautiful game.