Pienaar has failed to make the expected impact at White Hart Lane since joining from Everton in 2011.
The 29-year-old has recently been linked with the likes of Queens Park Rangers, Sunderland and Everton.
Redknapp said: “I wouldn’t want to let him go. He’s a good player.
“I’ve got no need to weaken the squad here. You never know when you could run into injuries.”
