“This is not a decision the board and I have taken lightly,” said Tottenham chairman Daniel Levy in a statement.
“This decision in no way detracts from the excellent work Harry has done during his time with the club and I should like to thank him for his achievements and contribution.”
Spurs were bottom of the Premier League table when Redknapp arrived at White Hart Lane from Portsmouth in 2008. Redknapp, in a statement issued by Tottenham, said: “I have thoroughly enjoyed my time at Spurs and am proud of my achievements.
“I am sad to be leaving but wish to thank the players, staff and fans for their terrific support during my time there.”