The Scot, who has both played for and managed Leeds in the past, is as low as 5/1 to return to Elland Road.
Gary McAllister is as low as 5/1 with some bookmakers to make a managerial return to Leeds United.
The 49-year-old, who played for the Yorkshire side between 1990-96, has already been Leeds boss back in 2008, although he was sacked later that year.
Now, however, as detailed by Oddschecker, McAllister is the second-favourite candidate to make an Elland Road return. The Scot can be found at prices of 6/1, 11/2 and even 5/1 with some bookmakers.
However, Steve Clarke is the front runner by a long shot, with the former West Brom boss 10/11 and 11/10 to be given the job by owner Massimo Cellino.
And it is Redfearn himself who is third-favourite for the Elland Road hotseat on a permanent basis, with prices ranging from 7/2 to 8/1.
McAllister's surge up the bookmakers' lists is perhaps the most interesting development, however, as the Scot has been out of work since 2011. Even then, the 49-year-old was Gerard Houllier's assistant at Aston Villa before taking temporary charge of the Villans as caretaker boss.
Tony Mowbray has reportedly applied for the Leeds job, while Ian Culverhouse and Chris Hughton are also said to be realistic candidates to take over at Elland Road.
It is Clarke, though, who leads the running at the minute, with McAllister and Redfearn next in line. The nature of the managerial merry-go-round means that could all change rather quickly, though.