Spurs turned down an improved £27m bid for the playmaker from the Stamford Bridge club this week, with chairman Daniel Levy determined to hang on to the Croatian, who is under contract until 2015.
"I fully expect Luka to be here at the start of the season," Redknapp told The Sun.
Modric has indicated that he would like to move to Stamford Bridge, but Redknapp believes the 25-year-old will not cause a stir if he stays at White Hart Lane.
"Luka is the nicest boy you could meet and he would not cause a problem to anybody," Redknapp added.
"But Luka feels he has a chance of playing for a team who can win the Champions League. He's also been offered a lot of money."
Modric is due to play in Tottenham's pre-season friendly against the Kaizer Chiefs on Saturday.