The 65-year-old will come face to face with his former club this weekend for the first time since being sacked at the end of last season.
And, with his Rs side currently rooted to the bottom of the English top flight, Redknapp accepts that beating Spurs will be a big ask.
He told the London Evening Standard: "Spurs could field two teams who could compete in the Premier League.
|12/1||QPR are 12/1 to beat Tottenham 1-0 with Paddy Power|
"They can afford to let Danny Rose go to Sunderland on loan because they have people like Benoit Assou-Ekotto, Kyle Naughton and Kyle Walker in the squad. They have loads of top-class midfielders.
"They're full of quality everywhere. It's a similar group to the one I left but then Mousa Dembele has gone in and done well. They have an outstanding group of players, no doubt about that."
The Englishman went on to insist that he has no hard feelings over his dismissal from the north London club by chairman Daniel Levy.
He added: "It will be strange but time moves on and I have no bad feelings towards Tottenham.I don't live my life like that. I had a great time there, I loved the fans and they were great to me.
"Not many people walk away from a club as popular as I was at that time. Normally when you leave a football club, you go out with the fans shouting for you to go but I never had that. The people treated me absolutely brilliantly."