The former Real Madrid centre-back returned to training this week after spending more than a year on the sidelines.
Redknapp had feared Woodgate would not be able to play this season after a series of operations but he revealed on Friday that the 30-year-old could return to first-team action in two weeks' time and admitted a loan spell could aid his recovery.
Redknapp said: "I spoke to Jonathan and I said to him that if he comes through the next couple of weeks then it might be a good idea for him to go out on loan to play some matches and I think he fancies that."
Source: PA
Source: PA