Redknapp is the overwhelming choice of fans and pundits to replace Fabio Capello after the Italian's resignation last week.
But the popular White Hart Lane boss is in charge of an exciting side challenging for the Premier League title and a Champions League spot.
Speaking exclusively on Abu Dhabi Sports, Redknapp said: "I'd be a liar if I said I wasn't the popular choice. I know I am, it's been everywhere, in every paper every day.
"But it's not an easy one. I have a good job and I work with good people and I have a good team. The fans have been fantastic to me. Just to walk away now, when we're in such a good position, it wouldn't be fair, it wouldn't be fair on Tottenham. I have to really keep focusing on Tottenham.
"This week we have Stevenage in the Cup, then we have Man Utd, then we have Arsenal, then we have Chelsea. We have some fantastic games. It's important time for me with Tottenham."
Redknapp does believe it might be possible for a club manager to take charge for the European Championships, but not in the long-term.
"Part-time? In the short term I think it's possible for the European Championships. But I think in the long-term it's not possible to manage a club team and manage a national team. It's difficult enough to manage in the Premier League without having to worry about managing the England team as well. You want to be watching England players play, you want to be watching the opposition.
"I think, whoever they give the job to could only do the one job. Maybe for the Euros, it's not such a problem but once the Euros are finished and the new season starts in England, the manager has to be a Premier League manager - if it's someone who manages in the Premier League - or the England manager. To do the two jobs, it would be impossible."