Croatian playmaker Kranjcar - signed from Portsmouth in September 2009 - has made just 10 appearances for Tottenham in all competitions this season, but Redknapp insists the 27-year-old is key to his plans.
New QPR manager Mark Hughes is reported to be interested in tempting Kranjcar away from White Hart Lane, but Redknapp has moved quickly to quell such rumours.
"No chance. I wouldn't sell Niko," said the Spurs boss. "He might play Sunday (against Manchester City). I love Niko - he's a real footballer, a good player.
"He's just been unlucky, but he's important to me. You could say 'well, why don't you play bloody play him?' But I've got Gareth Bale. It's been hard to get him in the team."
Third-place Tottenham head to Eastlands five points adrift of table-toppers Man City and will be looking to avenge their 5-1 home defeat to Roberto Mancini's team back in August.