Leeds United are chasing Newcastle United and Brighton & Hove Albion in the top two Championship spaces.
Leeds are currently in fourth place in the Championship table, and beat Brighton & Hove Albion in their last match.
That victory has given Leeds an outside chance of claiming an automatic promotion spot, but Redknapp does not feel that they can catch the top two.
“He’s done a great job at Leeds has Garry, an excellent job,” the former Tottenham Hotspur and Queens Park Rangers boss said.
“I’m really pleased for him. But the first two spots look like it’s between Newcastle and Brighton.”
Leeds are currently eight points behind both Newcastle United and Brighton, and they will have to overtake third placed Huddersfield Town if they are to make it into the top two.
However, there have been plenty of encouraging signs around Elland Road in recent weeks, with Leeds in excellent form.
The Whites have gone unbeaten in their last seven matches, to continue to climb up the Championship standings.
Leeds are next in action after the international break, in two weekends’ time, when they take on play off chasing Reading at the Madejski Stadium.