The new Loftus Road boss is keen on signing the former Chelsea striker, but admits any move is dependent on the player and the club finding a compromise over potential wages
The west London side's first win of the season over Fulham last weekend saw them off the bottom of the league, but they are still five points adrift of safety despite replacing Mark Hughes with the 65-year-old.
However, the former Tottenham coach believes the 33-year-old Shanghai Shenhua forward could fire his side to safety, providing the terms suit both the club and the player.
"[Anelka] is a player that is of interest to anybody. I think he is finishing in China so he is available," he told reporters.
"He is a top player so he is a player we would be interested in, but whether we could afford to get anywhere near him I am not sure."
The French striker has plenty of experience in the Premier League, having represented Arsenal, Liverpool, Manchester City, Bolton and Chelsea, but has struggled with just three goals in 22 appearances for Chinese side Shanghai Shenhua.
And although Redknapp believes chairman Tony Fernandes has contacts with the striker's agents, he stated the deal hinges on whether the outlay would be beneficial to the club.
He continued: "I think the chairman knows Nicolas' people and that so has got a few details on what it would be.
"It depends, as I say, just how expensive the whole package comes to. If it is within reason, he is a player that could certainly improve your team. There is no doubt about it.
"It is what you can do, whether you can afford these players, what they are looking for, whether they are reasonable, whether you can deal with them and most importantly whether you think they can do the job you want."
The Londoners are unbeaten under Redknapp with three draws and a win, and have 10 points after 17 games with festive fixtures against Newcastle, West Brom, Liverpool and Chelsea seen as crucial to their survival.