There had been speculation last week that Redknapp was close to losing his job, with the R's down in 19th place in the Barclays Premier League and without a win in six games in all competitions.
Manchester United won 2-0 at Loftus Road on Saturday to leave QPR in the relegation zone but Fernandes issued a statement backing Redknapp.
"I firmly believe Harry is the best man to get us out of the position we currently find ourselves in," the statement read.
"He has great experience and having spoken to him at length over the last week or so, he is determined to turn this around and help us maintain our Premier League status.
"This is Harry's squad of players, so he is the man to move us forward."
Source : PA
Source: PA