Spurs' 5-0 defeat against Real Madrid, capped by Wednesday night's 1-0 loss at White Hart Lane, completed a mouthwatering semi-final line-up that also includes Barcelona and Manchester United.
United will be favourites to get past German side Schalke, while Real's clash with arch-rivals Barca pits arguably the two best sides in the world against each other.
Redknapp said: "Barcelona for me look the best team I've seen in about 25-30 years. I must say when I see Barcelona play, I think they are amazing."
Yet, the Tottenham boss added of Jose Mourinho's Madrid: "You'd be a fool to write one of his teams off. What he's done has been incredible.
"Last year, I went with Inter Milan to win the Champions League. I just had a feeling that he could do it. The final's at Wembley this year as well, so I wouldn't write Man United off."
Source: PA
Source: PA