Barnsley sacked manager Danny Wilson earlier on Thursday and Redfearn will inevitably be linked with a return to Oakwell after captaining the South Yorkshire side to promotion to the Premier League in 1997.
Wilson, 55, was in his first spell as manager at Barnsley at the time and while Redfearn acknowledged the role both played in the Reds' most successful spell as a club, he stressed he was enjoying life at Leeds, the club he supported as a boy.
Redfearn said: "I've got a lot of respect for Danny. I had good times at Barnsley, really successful times at Barnsley.
"It was the most successful time in the club's history and Danny was obviously instrumental in all of that.
"He's a top manager and he's a top guy and I'm pretty sure he will be back in football at some point.
"You don't like to see anybody losing their job. The idea is for clubs to be able to build and plan and get better and managers need time to do that."
On his own long-term future, Redfearn added: "I don't look past Saturday. There's no point.
"I'm really enjoying the opportunity I've been given. This is a massive club and this is the club I supported as a boy.
"It's not the same club I supported as a boy, because obviously time changes football clubs, but it's still Leeds United and it still stands for being a big club.
"There's a lot of people here who have put a lot of hard work in and who are trying to put the club on a lot better footing.
"I respect that. I'm enjoying my time here. I'm enjoying the fact that I've got a lot of players here who I had as kids now in the first team and I'm enjoying watching them progress as players."