The Morocco international scored two second-half goals as QPR beat local rivals Fulham 2-1 at Loftus Road to move off the foot of the table.
It was the first win under Redknapp and QPR's first league victory since they beat Stoke on May 6.
Taarabt was inspirational for most of the game and Redknapp enthused about his match-winning contribution.
"(He has) Fantastic ability, he was amazing," said Redknapp. "He is an amazing talent, we all know that and we have all seen it since I went to Tottenham, no-one ever doubted his ability or his talent.
"I decided I had to get him in a position where he wants to play. He has been playing off the left but I played him in the hole, off the front man and tried to get him between the lines - play little balls in those holes to him and every time he got the ball they were in trouble."
Rangers dominated for much of the game but conceded a late goal through a deflected Mladen Petric strike and Redknapp admitted the goal led to a tense final few moments at Loftus Road.
"We deserved it (the win)," he said. "I thought we were the better team and it would have been a travesty if we had conceded another goal in those hectic couple of minutes went they pushed (Brede) Hangeland up and bombed it into our box.
"When you have not won, psychologically the players must have been thinking 'oh my God' when they have got the goal and they think an equaliser is going to come, it must have been difficult.
"It was difficult for me watching that last four minutes and they must have felt the same but we hung in there and got the result we deserved."