Redknapp has been a huge success at White Hart Lane and is overwhelming favourite to take over from Fabio Capello when the Italian's tenure ends after next year's European Championships.
But, responding to a question at the club's Annual General Meeting on Tuesday, Levy is quoted by the Evening Standard as telling the meeting: "Harry has 18 months left on his contract. We have had a conversation that says as far as Harry is concerned, he is very happy here and that he doesn't particularly want to consider England at the present time."
He added: "We will worry about that situation if it arises in the summer."
Redknapp's side saw their impressive run in the Barclays Premier League halted by defeat to Stoke on Sunday, but Levy believes they are still on track to challenge at the top of the table.
"I hope we have a great season and that we can finish in the top four or, who knows, maybe even higher," he said. "We want first."
Source: PA
Source: PA