The striker is on loan at Portman Road until January but rather than spend a vast sum on a new frontman in the new year Redknapp may consider recalling him, although it is now reported that he wants to stay where he is.
"DJ's out on loan at the moment," the Rs boss told the Chronicle.
"Of course, we'll see how he goes, and if he works hard and continues to score, then you never know."
Campbell has impressed in the Championship for the Tractor Boys so far this season and scored his seventh and eighth goals for Town while on loan in the 3-0 win over Millwall on Saturday.
Ipswich boss Mick McCarthy has confirmed the much-travelled striker does want to stay on at Portman Road beyond his current loan spell, which ends in January, although he admits there could be interest in him from elsewhere due to his form.
"They [other clubs] will have all noticed DJ scoring goals here but there is nothing we can do about that," McCarthy said.
"All we can do is try and do a deal with him. He wants to stay long term at a club and I think this club would be his first choice, with things starting to go better."