Redknapp kick-started his summer recruitment drive when landing Peter Crouch from Liverpool last week but the spending will not stop there and he now wants Wright-Phillips.
The winger is still facing an uncertain future at Stamford Bridge and Redknapp admits that he would love to make him a Pompey player.
"At the moment we like him, he is a good player but he belongs to Chelsea," he told Sky Sports News. "We have spent some money on Peter Crouch, so the situation is that we have two other options but Shaun Wright-Phillips is a terrific player.
"You're always looking for one or two players to improve your squad. I feel we need to improve in one or two areas but every manager says that and I am sure we will get one or two before the start of the season."