"I am very hopeful about Gareth. If he had played at Wigan he might have cramped up on his hamstring so we rested him," said Redknapp.
"Hopefully he will be ready in time for Real Madrid."
But Bale, who has completed just three Premier League games this year, is not the only injury concern for Spurs as Redknapp conceded that defender William Gallas may not recover from his hamstring problem in time.
"I am hoping William will be fit but he is more doubtful [than Bale]. He was not able to train on Friday," said Redknapp.
Tottenham have drawn their last three matches 0-0 and Redknapp is aware that his side must raise their game against Jose Mourinho's side.
"Of course it will be a tough game against Real Madrid. We will have to play better than we did at Wigan if we are going to get the result we need there."
Redknapp has a defensive headache ahead of the trip to the Bernabeu. Alan Hutton is likely to miss the rest of the season as he is to undergo knee surgery, while Ledley King, Younes Kaboul and Jonathan Woodgate are also injured.
Real Madrid experienced a setback in their preparations for the game as Mourinho surrendered his nine-year, 150-game unbeaten record in league home matches with defeat to Sporting Gijon on Saturday.
Mourinho also has to make a couple of key selection decisions, with Cristiano Ronaldo, Karim Benzema and Marcelo all very doubtful.
The former Chelsea boss has indicated that he will meet with all three injured players on Monday before deciding whether or not to risk them.
Argentine striker Gonzalo Higuain, who has been sidelined since November with a back injury, made an unexpected return to first-team action on Saturday and is expected to be involved on Tuesday.
Source: BBC Sport
Source: BBC Sport