Villas-Boas' eight-month tenure as Chelsea boss came to an end on Sunday and Tottenham boss Redknapp - who is the overwhelming favourite to become the next England manager - admits the wealth on offer to the incoming boss makes the post at Stamford Bridge an attractive position, but he says he will not take up the role.
"It would be difficult. I wouldn't be able to come back to north London," he said, with a smile. "So no, I will pass on that one."
Pep Guardiola, Jose Mourinho and Rafael Benitez are among the bookmakers' favourites to succeed the 34-year-old Portuguese.
Despite Roman Abramovich firing six managers since taking over in 2003, Redknapp maintains the Chelsea job is one of the most appealing in world football due to the financial backing of the club's billionaire owner.
"It's a club you can win a championship at because the owner has spared no expense," Redknapp said. "He has built the most incredible training ground, and they buy top-level players.
"They have top players so it's a dream job for someone to go there and make a success of it, whoever they take.
"So many people would love that job and the chance to work at a great club with the backing that the manager gets there."
Source: PA
Source: PA