The former Tottenham manager was named as a possible successor to Oleg Blokhin after former AC Milan and Chelsea striker Andriy Shevchenko turned the job down.
A statement on the Ukrainian Football Federation website said: "The presiding committee took the decision to begin talks with Redknapp's representatives relating to him working in the post of chief coach of the national Ukraine team."
Ukrainian Federation chief Mikhail Fomenko added: "In my opinion, Redknapp will have high credibility with the national team players.
"He has enough experience, coaching talent and ability to motivate players.
"Every team Redknapp has led has improved quickly and achieved significant progress."
The move appears extremely unlikely in view of Redknapp's insistence on commuting to work from his home in Poole.
The 65-year-old, out of work since June, has been heavily linked with the QPR job - the Hoops are tipped to sack Mark Hughes after collecting just four points from their first 12 Premier League games.
Ukraine sit in fifth place in their 2014 World Cup qualifying group, with two points from three games.