Redknapp masterminded Spurs' highest Premier League finish of fourth last term, setting up a maiden Champions League campaign for the club.
And the 63-year-old claims he has the players to end what would be a 50-year wait for the league championship at White Hart Lane.
"I feel we could contend for the title; we have got the players here," said Redknapp, who has added only the Brazilian midfielder Sandro to his first-team squad so far this summer.
"We have to aim for it. We could win the championship. Last year, we went in saying we wanted to finish in the top four and if you don't aim for things, you have no chance."
Despite praising his current squad, Redknapp admitted he would need to strengthen it if Spurs are to compete in the Champions League on top of their domestic commitments.
Tottenham will enter the competition in the play-off round next month, when they will face a two-legged tie for a place in the lucrative group stage.
"The Champions League is massive - forget budgets - we just want to be there," said Redknapp. "If we can get into the group stages, we can make an impact. We have good players - some fantastic ones at our club. And they can get better.
"We are going to have to rotate at times - we cannot play the best players all the time. I feel that, if we can bring one or two players in, it will make a difference."
Redknapp also reiterated his sadness at losing out to Liverpool in the race for Joe Cole, revealing just how close the England midfielder had come to becoming a Spurs player.
"We are disappointed to miss out on Joe Cole because he was a great free transfer and he must have had a better offer from Liverpool," Redknapp said.
"I spoke to him a month ago and I thought he was coming here. He wanted to come to Tottenham. He had made his mind up - I had no doubt about that. But a month went by and Liverpool moved in."
Source: PA
Source: PA