Premier League new boys Hull have been linked with Taarabt, 24, but Redknapp insists the Moroccan will only be allowed to leave Loftus Road on a permanent transfer.
"What's the point in loaning him out for a year and then him coming back to us?" Redknapp told Sky Sports News.
"If he wants to go let somebody come and pay the money for him.
"If no one wants to buy him, he has to come and play here and do well and help QPR get back in the Premier League."