Hull City and Marseille have both been linked with a season-long loan move for the Moroccan playmaker, who was sent home from pre-season training by QPR last week for turning up late.
Redknapp thinks that a loan move would not be worthwhile for his side at this stage, challenging potential suitors to either pay a transfer fee or look elsewhere for new players.
He told Sky Sports News: "There's talk about [Taarabt] going to Hull on loan. What's the good in that?
"If he wants to go, let somebody come and pay the money for him.
"If not he can stay, prove what a good player he is and help us get promoted back to the Premier League."