Henry has been strongly linked with the Aston Villa vacancy.
Reports suggest Henry is one of the frontrunners to succeed Steve Bruce, with John Terry, the former Villans captain, tipped to become the Frenchman's number two at Villa Park.
But having bumped into Terry at a social event on Monday, Redknapp has hinted that a bigger role could be in store for Terry, who announced his retirement from professional football over the weekend.
"I don't think Thierry is going to go there - that's what I've heard." said the former Tottenham Hotspur manager.
"I was at a function last night and John Terry was there and I had a feeling he is right in the frame for the Villa job.
"He's a runner, that's for sure."
Bruce was sacked last week after two years in charge at Aston Villa, who won one of their former boss's last 10 matches.
Brendan Rodgers, the Celtic manager, and Roberto Martinez, Henry's superior with the Belgian national team, have each been strongly linked with the Villa Park vacancy in recent days.
According to the Sun, however, Henry is edging closer to the job after the Villans hit a brick wall in their pursuit of Rodgers.
Signed by Bruce in 2017, Terry captained Aston Villa to the Championship play-off final in his one and only season at the club, but left at the end of a one-year contract.
Have something to tell us about this article?