Spurs boss believes that the Three Lions can go all the way and lift the trophy next summer, and praises Fabio Capello for picking Frank Lampard to start against Wales
The Three Lions registered a 1-0 victory over Wales at Wembley on Tuesday to extend their lead at the top of Group G to six points, albeit having played a game more than second-placed Montenegro.
With England expected to make their way through qualification by claiming a direct entry into the tournament, the Spurs boss insists that he feels the team has what it takes to go all the way next year.
"Of course we can [win Euro 2012]. I said we could win the World Cup and was wrong but I do believe we have a good chance," Redknapp said in The Sun.
"Spain are the best team in the world but after that there's a group of four or five who could win it.
"We have gone about the job of qualifying professionally and methodically - they've done all that's been asked of them.
"We've seen the emergence of some good, young players, too. "
Tottenham target Gary Cahill put in a strong performance against Bulgaria and even scored a goal to emphasise his showing in the 3-0 victory in Sofia on Friday, but the former West Ham United boss reckons he will not keep Rio Ferdinand out of the side when the Manchester United man returns to full fitness.
"Rio Ferdinand is a fantastic player," said Redknapp. "Gary Cahill has done a great job standing in for him.
"His goal in Bulgaria underlines what a talent he is. But, when fit, Rio is the best centre-half we have. John Terry picks himself too.
"There are certain players that you can't really leave out when fit and I still firmly believe Rio is one of those. He is as good as anyone in the game in his position."
Redknapp also hailed boss Fabio Capello for making a tactical switch by playing Frank Lampard instead of Spurs' Scott Parker, who had started ahead of the Chelsea man in Bulgaria.
"Frank is a more positive player and Fabio Capello obviously went for a more attacking line-up, especially with Scott Parker on a yellow card," he said.
"Different players work for different systems.
"Parker was great in Bulgaria on Friday evening but Capello went for a tactical switch last night.
"Everyone thinks they can pick a better team than you as a manager and if you lose you get slaughtered.
"Only when you win do people give the manager credit.
"It wasn't a great game but it's the first win at home in five games so the job was completed successfully."
Redknapp has been widely tipped to take over from Capello when the Italian's contract with the FA expires at the end of next summer.