The highly-rated Portuguese has been the subject of intense transfer speculation in recent weeks and the player's agent, Lionel da Silva, claimed White Hart Lane was his most likely destination.
However, Redknapp claims reports of a possible bid are wide of the mark.
"It's not true," he told reporters after Spurs' 1-0 win against Benfica in Lisbon on Tuesday night.
"I believe he's a good player, but he is not and never has been in our plans.
"Djalo featured as Spurs and Sporting drew 2-2 in a recent friendly in New York.
Source: PA
Source: PA