SunSport revealed United manager Alex Ferguson has made the Tottenham playmaker his major £25million summer target.
But Redknapp told his old mate Fergie: "There's no chance of it happening at all. Luka's key to everything that's happening at this place.
"Everybody knows what I think of him. And if you want to move on to higher levels you don't start flogging off your best players - to anyone."
Redknapp had been linked with Manchester City's Stephen Ireland as a midfield replacement for Modric.
But the Spurs boss said: "Stephen is undoubtedly a very good player but we have a lot of players who can fill that position. I like him but he won't be a target."
Despite previous interest, Redknapp insisted he will not move for £14m-rated Bolton defender Gary Cahill, who interests Arsenal.
He said: "I like the player, always have. But I am very happy with my defence.
"Michael Dawson and Ledley King have shown what they are all about by forcing their way into the England squad.
"I have an excellent squad and - I stress - Luka Modric is going to remain a part of it."
Modric helped Spurs clinch fourth place to grab a coveted Champions League berth.
The Croatia star, 24, said: "I thought at the time 'This is a big thing for us'. If we qualify for the group stages of the Champions League I'm sure this club will go on to another level."
READ the full Luka Modric interview in Hotspur, the official magazine of Tottenham Hotspur, out tomorrow.
TheSun
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