Rangers' Barclays Premier League future is looking bleak ahead of Sunday's clash with Wigan as they sit seven points adrift of safety with only seven matches remaining.
Speculation will shroud Redknapp's position should they slip into the npower Championship, but Fernandes told London Call-In: "I want stability more than anything. I wanted it with Neil Warnock and Mark Hughes, so it's third time lucky with Harry. I think he is the man."
He went on: "We understand each other well and he knows how committed the shareholders are.
"He has a great coaching staff and philosophy - he's a fantastic man and I would love to keep him as long as he wants to stay."
Fernandes has confirmed there will be departures from Rangers regardless of what happens over the coming seven games.
"We will have to sit down with Harry and discuss who we want to keep and who would go," he said.
"Obviously there will be players that will go regardless of if we stay up or go down. We want players who can give a lot to the club for a long time.
"I do see players going, but we do have the nucleus of a good squad now which we have had to rebuild.
"Every single player who has left QPR has not stayed in the Premier League and I think that shows how much rebuilding we had to do."
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